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Franco Vazquez

Petrol closing in on ton in India

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Fuel prices across the country have touched a record high with yet another hike on Friday. In the past one month, prices of diesel have increased by nearly Rs 4 per litre and that of petrol by Rs 3 per litre. On Friday, fuel prices were increased by nearly 50 paise. In Delhi, petrol was being sold at Rs 79.99 per litre. In Mumbai, Chennai and Kolkata, petrol prices were Rs 87.39, Rs 83.13 and Rs 82.88 respectively.

The Congress and the Left parties have announced nationwide protests against the hike. The Congress has called for a Bharat bandh on September 10, and the Left parties have called for a similar strike on the same day.

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That's one way to control carbon emissions: high fuel prices, an indirect carbon tax. 

 

Easy for me to say that though since i'm not much affected while there's many more who are adversely affected. But then climate change & pollution affects the poorer sections of society much more than the upper middle class & the rich.

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1 minute ago, FischerTal said:

Nothing government can do about petrol since it is imported. 

>50% of the price is central & state tax. They can reduce it if they wanted to, however these taxes are the most consistent form of revenue and govts are perpetually running deficits, so its impractical.

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20 minutes ago, Clarke said:

>50% of the price is central & state tax. They can reduce it if they wanted to, however these taxes are the most consistent form of revenue and govts are perpetually running deficits, so its impractical.

Pretty much. Although I feel if it does get to 100, then you pretty much have no option but to cut taxes

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2 minutes ago, FischerTal said:

Pretty much. Although I feel if it does get to 100, then you pretty much have no option but to cut taxes

Certainly for state govts since center's tax is a fixed amount per liter while state govt's tax as percent of fuel price. Given the due Lok Sabha elections, neither can be ruled out. 

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56 minutes ago, Clarke said:

That's one way to control carbon emissions: high fuel prices, an indirect carbon tax. 

 

Easy for me to say that though since i'm not much affected while there's many more who are adversely affected. But then climate change & pollution affects the poorer sections of society much more than the upper middle class & the rich.

Increase in fuel prices in a country like India have a massive cascading effect on economy leading to rise in prices of food, essential commodities, transportation etc which leads to inflation spiking up thus causing more problems for millions of poor folks who are already reeling under the effects of economic slowdown and unemployment.

Climate change is the last thing in their mind.

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1 hour ago, Franco Vazquez said:

But who cares homosexuality is legal in India. Dollar has touched a record high 72 but who cares Homosexuality is now legal and India got its oxygen back.

Why are you so bothered by homosexuality being legal in India.

 

You don't stay in India.

You are not likely to stay in India.

You don't like Indian women ....to phir kya problem hai bachcha.

 

Tujhko kya matlab?

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5 hours ago, Clarke said:

Certainly for state govts since center's tax is a fixed amount per liter while state govt's tax as percent of fuel price. Given the due Lok Sabha elections, neither can be ruled out. 

BJP controls most state governments so in the end, its Modi-Shah who will make the decision. you cant go into LS elections with an angry middle class. they are BJP's traditional vote bank. 

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China will sell 1 million EVs this year, growing at 80% cagr out of 22 odd million total vehicles.

 

Battery cos. Like catl, byd, Tesla , lg chem building capacities....  But the world needs around 6000 gwh annual battery supply to get rid of Internal combustion engine, ICE, totally, and it will produce just arn 400gwh even by 2020.

 

I expect China to declare ban on ICE soon by year 2030

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9 hours ago, Singh bling said:

Petrol price in Pakistan is 0.8 USD which is 58  Indian rupees

Their economy is messed up man. We can certainly reduce corruption & waste but their fiscal situation is worse.

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1 hour ago, Singh bling said:

In Sri Lanka its also  0.9 usd 

Sri Lanka is tons of debt. If they increase fuel price it will be chaos. Also you are comparing with dollar. Even if you compare India it’s pretty much a dollar. It depends on how much strong local currency and value of it is. The Sri Lanka fuel price was 145 few months ago. We don’t have how pricey it is for local population.

Edited by gattaca

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