very good assessment of the congress rule in the last 4 years ... this spineless govt knows only one thing .. how to lick feet of communists and how to fleece common poeple while claiming to be with aam aadmi ... it is high time we teach these bunch of thugs a good lesson in the next election.
RE:appropriate report card
by Kabir on Jun 11, 2008 11:42 AM Permalink
We have all been hearing that petrol prices have been raised by Rs 5 in order to save the economy, but see the following irony: Current Price/litre of petrol in Bangalore = Rs. 58.50 74 (US Petroleum Barrel conversion rate 158.987 litres) Price/barrel of petrol in Bangalore 58.50 * 158.987 = Rs. 9300. (assuming Rs40/dollar 9300/40 = $232) Price/barrel of petrol in Bangalore in dollars (USD) assuming Rs40/dollar = $232! Isn’t the world market rate of oil $130 per barrel? Keep in mind that India is self sufficient in processing crude oil and 90% of the processed petrol cost is that of crude oil. TO TOP ALL THIS, GOVERNMENT SAYS THAT THIS INCREASE IS NOMINAL TO AVOID ECONOMY FROM COLLAPSE! THE ACTUAL PRICE SHOULD BE RS.71/LITRE! YOU COULD DO SIMILAR CALCULATIONS FOR YOUR CITY TO FIND WHETHER GOVT IS SUBSIDISING CONSUMER OR CONSUMER SUBSIDIZING GOVT.
RE:appropriate report card
by hanif mohammed on Jun 12, 2008 03:30 PM Permalink
Hello Mr Kabir - the crude oil price cannot be equated with refined petroleum products. For USD 130 you get to buy a barrel of crude oil, which has to shipped to a refinery, and converted to various petroleum products, and thereafter transported to different parts of the country. The killer is taxes imposed by centre and state governments !! The tax should be fixed on quantity, rather than on esclating price.
RE:appropriate report card
by Kabir on Jun 13, 2008 02:28 PM Permalink
Hi Hanif, That is what my point is..if you have read it carefully "India is self sufficient in processing crude oil and 90% of the processed petrol cost is that of crude oil" so only 10% is the processing other cost...still fuel prices are so high in India...one should think about GOVT's CLAIM TO HAVE SUBSIDIZED PEOPLE after having charged huge amount as tax on fuel.
