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Global crude oil price crash: Who gains the most in

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Posted on: 01:57 PM IST Jan 07, 2016 | Updated on: 2:01 pm,Jan 7,2016 IST

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The global crude oil price hit an 11-year-low on Thursday. The crude is trading below $35 a barrel in
the international market. The escalating tensions between the Sunni dominated Saudi Arabia and
Shia dominated Iran the two top oil producing nations in the World - is said to be the reason

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behind falling crude prices.

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However India, one of the largest importers of crude oil, is saving billions of dollars due to falling

World

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Masters, P

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time with AIU self p
and affordable pro

prices of crude oil. India benefits by a fall in diesel and petrol prices, lower tyre prices, lower paint
prices. Also there might be a significant 15% fall in air ticket prices in India.

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With the global economy looking shaky due to China's slowdown, traders said the outlook for oil remains for cheap prices for
much of 2016.

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#China

#crude oil

#diesel

#India

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Global oil prices have crashed 70 percent since mid-2014 as near record output from major
producers like the Organization of the Petroleum Exporting Countries (OPEC), Russia and North
America create a ballooning overhang that has left storage tanks around the world struggling to
cope with the excess oil.
At the same time, demand is slowing, especially in Asia where the biggest economy and energy
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Globalcrudeoilpricecrash:WhogainsthemostinIndiaIBNLive

consumer, China, is seeing the slowest economic growth in a generation.

Traders said a dispute between Saudi Arabia and Iran, which might normally be seen as posing a risk
close

to oil supplies, may actually be bearish as it all but eliminates cooperation over production between
the two OPEC members.

Flowcon Industria

Analysts said that the huge US storage overhang was the main reason for falling WTI crude. The
huge storage overhang means that even if US production falls in 2016 as drillers succumb to low
prices, it will take many months to work down excess supplies.

Specialists in metering system

to measure fuel, chemicals &
food
www.flowcon.co.za

With the global economy looking shaky due to China's slowdown, traders said the outlook for oil
remains for cheap prices for much 2016.

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TrendingatCNNIBNNews

According to a research data by Morgan Stanley, here is an explaination of the Oil Economics for the

IBNLive

common people in India.

Crude Declines: Who Gains Most?
Delhi: Petrol Pricing
- Consumers pay Rs 59.35/l
- OMCs charge Rs 22.46/l
- Dealers pay Rs 25.50/l
- Dealer commission: Rs 2.25/l

Ladiesandgentlemen,wepresent
'TheNarendraModiAarti'
Thisistrulyaworkofart.
Readmore

- Value added taxes: Rs 11.87/l

19h

- Excise duty: Rs 19.37/l

Thus, 61% of what we pay on every litre of petrol goes to the companies, dealers, the Centre and the

Crowdynews

Delhi government.
Delhi: Diesel Pricing
- Consumers pay Rs 45.03/l
- OMCs charge Rs 18.69/l
- Dealers pay Rs 23.11/l
- Excise duty: Rs 13.83/l
- Dealer commission: Rs 1.43/l
- Value added taxes: Rs 6.66/l
58.4% of what Delhi consumers pay is actually what the companies, dealers, centre and the state
make.
How Much Have We Saved?

MOSTPOPULAR

Consolidationshouldn
seennegatively,says

- Peak oil bill (in 2012): $108 bn

- Current 12-month oil bill: $61 bn

'Brainless'marketrally
continueawhile:Micha

- So net savings: $47 bn

Who Benefits From Lower Oil Prices
- Bulk of savings (60%)goes to the government
- Lower oil subsidy: $14 bn
- Higher excise duties: $14 bn
- Passed on to consumers: $8 bn
- Corporate sector : $11 bn
How We Benefit
- By fall in petrol prices
- By fall in diesel prices
- 15% fall in air ticket prices
- Lower tyre prices
- Lower paint prices
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Jointhediscussion
Varier 2monthsago

Whateveristhescenarioitisadvisabletokeepthepriceofpetrolanddieselatthepresentlevelforsome
moretime.Asweknow,thepriceofdiesel,inIndia,hasreducedbyalmost20%fromtheoneyearbefore
level.Pleasetellmewhohascorrespondinglyreducedtheirpricesautowallas,transporters,taxiguys
(nottheuber/olatypes).Allofthemareclaimingtobeoffsettingtheirotherincreasingcosts.Noneofthem
willreduce.Presentlyweareinastateofstability(goodorbad)asfarasthefuelpricesareconcerned.If
thepricesarenowreduced(evenifwereduce50%ofthe50oddpercentagethatthegovtgets)the
reductioninrupeetermswillbeRs.1013max.Allthepotentialbenificiarieswillclaimtooffsetthisbenefit
withtheirincreasedcosts.Eventhestatetransportcorporationsalsowillnotreduce.Thegreaternegative
effectwillbewhenthereisapricehikeforcrude,alltheuserswillhiketheirprices.

Reply Share

AmitNimbalkar 2monthsago

Globaloilpriceshavecrashed70percentsincemid2014from140USDto<35USD(morethan105USD
perbarrel)andpetrolpriceinMumbaihasreducedjust13Rupees(80rsto66.9rs)0.2USDfrom2014
todate.Whereisthismoneygoingon?OK,Isthereanyhappening?.Jiatleymaybelearningfromtrial
anderroroftaxes.ThisisshamethatwecanthavethisbenefitofPetrolatleast.Pricesareskyrocketed
withservicestaxesincreased...Whereareweheadingnow.Iamloosinghopewiththisgovernment
4

Reply Share

sachinpurohit>AmitNimbalkar 2monthsago

Thepetroldieselpricesalsodidnotincreaseasfastwhencrudewentupfrom$30perbarelto130
perbarrel.AlotwasabsorbedbyOMCs.Governmentisattemptingtowipeouttheearlierdeficit.
Whatwouldbeimportanttoseeinwhichformthetaxrevenuecomesback..isitintheformof
populistschemesthatdontcreateanywealthandinsteadinflatetheeconomyorintheformof
increasedinfrastructurespending.Thatwilldecidewhetherthisisrightthingtodoornot.
4

Reply Share

IAF101>sachinpurohit 2monthsago

Youarecorrect.PeoplewhowantsubsidyfordieselandLPGandKeroseneshouldnot
complainaboutnotbenefitingfromfallingoilprices.

Reply Share

IndianinTN>IAF101 20daysago

WhenthecurrentBJPgovernmenthassomuchsurplusmoneyfromthesavingsin
oil.Whyisitstillcryingthatitdoesnothavemoneyforthisandthatschemes.And
bythewaywhatschemesisthegovttalkingabout,Aretheseunderthetable
dealingstomakemoneyforthemselves

Reply Share

RS>IAF101 2monthsago

Afterimposedheavydutyandtax,reducingapartbywayofsubsidycreate
improperaccountandbecauseofthateverybodyisbeingaffected.Whythe
governmentisnotreducingthedutyandtaxandmaketheoilmarketopentoother
investorsalsosothatacompetitioniscreatedandthepriceswillremainlow.

Reply Share

IAF101>RS 2monthsago

OilmarketISopenwhotoldyouitisnot?NeverheardofRelianceEnergy?or
CainIndia??For60yearspeoplehappilytooksubsidyandenjoyedlowpetrol,
dieselandkerosenepriceswhyshouldtheybenefitwhenitfalls?HowwillOIL,
BPandIndiantaxpayerownedoilcompaniesthatsufferedmassivelossesduring
highoilprices,alongwiththeIndianGovtwhichfacedfiscaldeficitrecovertheir
costs?Ingoodtimeslikethistheywillkeeppricesconstantbyincreasingtaxes
andmakinguptheirlosses.ItisnaturalandhealthyfortheeconomyasGovt'sfiscal
situationimproves,India'seconomygrowsmorerobustandFIIshavemore
confidencetoinvestinIndiaalsoIndia'seconomicsituationimprovingalsomakes
itcheaperfortheGovttofinanceexternalborrowing.

Reply Share

RS>IAF101 2monthsago

Withoutknowingtherealityyouaretalkinglikethis.Inacountrywhere50%ofthe
populationispoorandabout25%ofthepopulationisinlowmiddleclassafter
imposingexcisenearly50%andlocaltaxesapprox.inallstateabout25%the
subsidyisimminent.Buttodaythepositionisentirelydifferent.Everythingdepend
onoilprices.Thoughthegovernmentreducethepriceslittlebit,thebenefithasnot
reachedthepublic.Therailwayfareandthelocalstatetransportcorporationsare
notreducedtheirfarecharges.Infacttherailwayhasincreasedthefare.Nowalso
thereductionincrudepricesoninternationalmarketgonetomorethan50%

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thereductionincrudepricesoninternationalmarketgonetomorethan50%
(Yesterdayi.eon12.01.16nightWTCrudefelldownto$29.93/barrel)butinIndiait
hasnotevenreducedby20%andtheexciseisgoingonincreased.Itwillaffect
everything.

Reply Share

IAF101>RS 2monthsago

Don'tkeepsingingdifferentsongsyousaidOilindustryisclosedandlimitedto
onlyGovtcompaniesthatisclearlyFALSE.
Further,RailwayfareisnotdependentonlyonOilpricesneitherarelocalstate
transportcorporationfares.Theyarebasedonmanyotherfactorslikeprofitability,
cashflows,operatingmargin,inflationetc.InfactifIndianrailwaysSTOPPED
transportingpeopletoday,itwillbemakingmoneybecausepassengerservice
coststheRailwaysmoneytooperate.Infact,Passengersegmenthasthe
LOWESTreturnfortherailwaysanditisalmostbreakevenierailwaysmakesno
moneytransportingpeoplecomparedtogoods.Forthelast10yearsrailwayshas
beenlosingmoneylikealeakingpipeduetopopulistschemesandeverybodywas
callingforincreasingpricesofrailfare,notdecreasingtopreventIndianrailways
fromgoingbankrupt.Thegovthoweverkeptpricesconstantandfocusedon
improvingsafetyanderasingRailwaydebtandmakingIndianrailwaysahealth
companyagain.Therailways,thestatetransportcompanieschargepricestheyfeel
ismostprofitableforthemyoucaneithertravelwiththemorchooseprivate
transportcompaniesifyoucanfindacheaperpriceyoucangowiththat.
Donotconfusethe"spot"priceofcrudewiththepriceofpetrolyougetinthepetrol
seemore

Reply Share

tyroinfinzie>AmitNimbalkar 2monthsago

Thisgovt'sideaofpetrol/dieselregulationis:WhenglobalpricesgoupincreasethepricesinIndia,
whentheygodowntheywillnotreducetheIndianprices.Whereallthismoneyisgoingnoone
knows.
1

Reply Share

RMaganti>tyroinfinzie 2monthsago

Ihopecommonsenseprevails.Theycan'twillynillyincreasetheexcisedutywheneverthe
crudepricegoesdown.Theyarecreatinganightmarishsituationfortheoilcompanies,
distributorsandpetrolstationswiththisfrequentrevisionofprices.Withabarrelofcrude
lessthan$40,thereisnoreasonforPetrolandDieseltobepricedanythingmorethanRs.
50.Ifthegovernmentisserious,theyshouldstoptinkeringthepriceofDiesel/Petrolforthe
foreseeablefuture.Bringitdowntoalevelwheretheyshouldnothavetoreviseupordown
forayear.Lowcrudepricesareheretostay,atleastfortheforeseeablefuture.Donot
burdenthecommonmanwiththismindlessrevisions.
3

Reply Share

IAF101>RMaganti 2monthsago

Howdoesexcisedutyrevisionsimpactoilcompanies,distributorsandpetrol
stations?AbarrelofCRUDEislessthan$40doesn'tmeanpetrolwillbepriced
accordingly.Raisingtaxesisthemostsensiblethingforacountrywithhighfiscal
andcurrentaccountdeficitstodoespeciallyinaperiodoffiscalconsolidationand
economicweakness.Governmentspendingonroads,infrastructure,etcalongwith
massivefutureoutlayslikeOROPandPayCommissionrevision.
1

Reply Share

RMaganti>IAF101 2monthsago

Taxcollectionandbookkeepingatdifferentexcisedutyratesisanightmarewhenit
happensonsucharegularbasis.Italsoleadstocorruption.Theyshouldstop
frequentrevisionofexcisedutyandprices.Havingagradedrevisionwhentheoil
pricegoesupordownby$10/bblisprobablymoresensible.
1

Reply Share

Hypocrite>RMaganti 2monthsago

Someamountofinflationisactuallyneededtoshowgrowth.Onlywhenitreaches
monstrousproportions,doesitbecomeaproblem.Indiadoesnothaveacomplete
freemarketandthingslikeEssentialGoodsandServiceslisttakecareofthebasic
needs.Therestofthemarketshouldactuallybeallowedtoseeinflationandnot
deflation.Themoreinflationitisthanothermarkets,themoredesirableitisfor
foreignmarketstoinvesthereandgetabetterReturnonInvestment.Oncetheyare
tiedtoyourmarket,theforeignmarketshavetowishthatyougrowanywayssince
otherwisetheywilllooseeverythingandtheirhomemarketwouldn'tbethat
profitableorlargetoo.TheUShasusedits400millionpopulationasthemarketfor
theworldandtiedeveryonetoit,whileitiscountrieslikeIndiaandChinawhichare
betterplacedtoadoptthatmodel.Chinahasalreadyrealizedthisandistryingto
encouragedomesticconsumption.RaghuramRajanunderstoodthisbasicfactand

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encouragedomesticconsumption.RaghuramRajanunderstoodthisbasicfactand
hencesuggestedthegovernmenttonotfocusonMakeinIndiaalone.

Reply Share

IAF101>tyroinfinzie 2monthsago

Whydon'tyouREADthearticletheGovtisgainingmoneywhenoilpricesgodownand
thatsagoodthingbecauseithassubsidizedpetrolanddieselandkeroseneandLPG.
Whyshouldyouearnbenefitsbothwayswhenpricesriseandwhenpricesfall?
1

Reply Share

MKRao>AmitNimbalkar 2monthsago

Why?doyouwanttoincreasethepollutionlevelsandwasteallimportantforeignreserveswhich
willonlyincreaseourothernecessitiesinturnifthedollarbecomesstronger.
1

Reply Share

IAF101>AmitNimbalkar 2monthsago

Whereisthemoneygoing?Didyounotreadtheabovearticle??Astowhatishappeningplease
lookattheCADandFiscaldeficitvalues?OrhaveyouforgottenthatourUPAgeniusesnearly
bankruptedIndiawiththeirsubsidyraj?IfJaitleyhastodotrialanderrorisChidhambaramsome
greateconomist?HeisalawyerbyprofessionsameasJaitleyandfarlesscompetentbecause
hisgovtimposedretrospectivetaxationwhichchasedawaymanyFIIsanddiscouragedalotof
FDI.
Youarebenefitingfromlowerfuelpricesbutindirectly.Whodoyouthinkisresponsiblefor
CurrentAccountandFiscalDeficitofthenation?ThepoliticianswillnotbeheldliableifIndiafails
topayitscommitmentstoitscreditors?ThatwillbeyouandIwhowillbeliableforthatdebtalong
withthenextgeneration.
1

Reply Share

Himanshu>AmitNimbalkar 2monthsago

Dude,youarethinkingaboutonlyPetrolpriceyoupaydirectly.Thinkaboutpricerelatedto
petroleumitemsincludingtransportcostoffooditems.Governmentcaneasilycontrolthepriceof
fooditems.Insteadwehaveyogalecture,twitter,digitalindiaandotherBS

Reply Share

IAF101>Himanshu 2monthsago

Firstlymostofthefreshfooditemspeoplebuyintheirmarketscomeslocally.Second,
evenifyouwantedtogetfreshfoodfromfartherawayIndiahasaridiculousunder
developedColdChain.Andfinally,thecostoftransportationperkgofyouraverage
tomatoesorpotatoesorOnionsislessthan10%ofthecost.
Thisfantasytaht"Govtcaneasilycontrol"isrubbishasmajorityofthecostfactorinfoodis
thepriceofstorage,themiddlemenandmandicartelspercentagethereisnodatatoback
uptheclaimthattransportcostsalonecaninfluencefoodpricesdramatically.Yourrice,
tomatoesandpotatoesaregrownwithin500kmsofwhereyoulive.Youarenoteating
potatoesfromKeralaandOnionsfromManipurtotalkabout"transportationcost".
1

Reply Share

AbbeyThomas>IAF101 2monthsago

Ireadalotofargumentsandreplies.Iwishtosharemine.Whenitcomesto
increasethepricethesesocalledlogicsarenotexplainedbutsays"OMC"are
incurringloss!Yetgovernmentenjoysbenefitofadditionaltaxes.Iftheoilpricesfall
retailpricesarereducedbytenpaisato33paisaor69paisaetc.Nogovernment
agenciesarecomingforwardtoexplaintherealstory.Oppositionnorthegreatnews
channelsarenotdoinganyinvestigationbuttheydoitonSheenaBoraorsimilarHi
profilecases.Whetheritisgovernment,oppositionormediaallareinterestedintheir
ownpublicity.IwonderwhereisShriArnabGoswamyofTimesnowonthisissue!
Whynonewschannelsaredoinginvestigationintoddcacase?

Reply Share

IAF101>AbbeyThomas 2monthsago

PleasefileRTIandgetDDCAreportfromDelhiSeriousFraudOfficethatwas
conductedin2013byUPAgovtandreadit.OMCsarecompaniesthatYOUandI
owntheyarepubliccompaniesandbybankruptingthemindirectlyitistheIndian
taxpayerwhoisbankrupted.Govtenjoysbenefitoffallingoilpricesbutpeople
enjoyedbenefitofOIlsubsidyalsoalltheseyearswhenoilpricesrosesomebody
hastopayforthatbenefitdon'tthey?NowwithPetrolanddieselonthewaytofully
beingderegulated,itmakesmoresensetoexpectlowerpricesforpetrolanddiesel
onewouldimaginebutyoushouldalsotakeintoaccounttwothings.Oneisthe
morethan4.5%fiscaldeficitthattheGovtofIndiafacedin2014andthemassive
currentaccountdeficitthatitfacedduetoacontractingeconomy.Bothofthese
havebeenreducedremarkablythroughincreasingrevenuecollectionandreducing
spending.OneofthewaystheGovthasbeenabletodothisisbyincreasingtaxes
onpetroleumproducts.ThishelpedstrengthentheIndianeconomywhich
converselysavedtheIndiantaxpayerfromanotherrecessionduetoadefault.

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1

Reply Share

bahari>IAF101 2monthsago

Growyourownfoodinyourbackyard.Andeatless.Drinkpetrolifnecessary.Only
donottalkaboutprices.

Reply Share

IAF101>bahari 2monthsago

Ifyoucan'taffordtobuyfoodyoucanstarve.Justdon'texpecttherestofusto
subsidizeloserswhocan'tworkhardandmakeenoughmoneytofeedthemselves
andtheirfamilies.

Reply Share

vk>Himanshu 2monthsago

Askbabakhujlitocontrolglobalmarketheisgoodatlying.Famerswantmoreconsumers
wantlessdroughtsfundedbykhujli.Consumersdon'twanttoacceptinternationalprices
alwayscomplainlikebeggarscompareyourselfandhaveperspectivewhyworldthings
indiaisbeggarstatenottalented.
1

Reply Share

pankaj>Himanshu 2monthsago

YoualsoneedtotakeintoaccounttheRupeedepreciationagainstdollarsallthese
years.Weneedtospendmorerupeesforeverydollarofcrudewebuy..

Reply Share

MKRao>Himanshu 2monthsago

Howcometheyareeffected?butfortransportyoupayjustasmuchyoupaynow.

Reply Share

Fancy>AmitNimbalkar 2monthsago

rightlysaid.....congressspoiledourcountryandlootedsomuchwealllosthopeinanygovernment
....

Reply Share

SrinidhiR 2monthsago

Itsbelow35$frommorethan100$ayearbackandstillnogreatbenefitforcommonman.Wearepaying
almostthesameprice.Whatisourbenefit..?
2

Reply Share

MKRao>SrinidhiR 2monthsago

Forgoodofthecountryandnaturedonotaskforlowerfuelprices.Please.
3

Reply Share

IAF101>SrinidhiR 2monthsago

Yourbenefitisthatthedebtyourgrandchildrenandtheirchildrenhavetopaytobalancethebudget
causedbythemassivespendingbythepreviousGovtonSubsidylikeNREGAetcisbeingwiped
awayandyourGovtisnotgoingtodefaultinitsCurrentAccountduetoabankrupteconomy.
1

Reply Share

Hriday 2monthsago

YesyouareonlyworriedaboutAirticketprices.Roadandrailtransportstillcoststhesame.Andwhole
mediacommunityissilentonthis..
2

Reply Share

GuruprasadGP>Hriday 2monthsago

lookslikejaitleyisdrinkingpetrolinsteadofbeer..35%ofwhatyoupaygoesintohispocket!!!!
1

Reply Share

Aravindan>GuruprasadGP 2monthsago

Whatdoyoumeanbyhispocket?itsgoingtothegovernment.Youneverquestionedythe
governmentwaspayingsubsidieswhencrudewasatskyhighbutheretoquestionwhen
governmenttryintomakeupfortheloss?hypocrites
4

Reply Share

bahari>Aravindan 2monthsago

Hispocketmeanshispocket.GovtisJaitley,Modi,Rajnathetal.

Reply Share

vk>GuruprasadGP 2monthsago

Hahahahabythatcounthowmuchgoesinkhujlibottom?Shamelessliars.400%payrise
nomentionwhatashamelessliarskhujlidogs.
1

Reply Share

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tyroinfinzie>GuruprasadGP 2monthsago

Itispossiblethatitisgoingintohispocket.Jaitleyhasbeenshownasmassivelycorruptin
theDDCAscam.Forsurehemightbepocketingalotofmoney.

Reply Share

Hereiam>GuruprasadGP 2monthsago

Andthatiswhyeventhatmadarsafailedyou.

Reply Share

bahari>Hriday 2monthsago

Travelbyboat.Thatwillreducethecosts.

Reply Share

NitinKalra 2monthsago

WhataboutlayoffsintheOilandgasindustryinIndia?IknowthatinAmericaandsomeEuropean
countries,theseoilpricestriggeredlargenumberoflayoffsandsalarycutsinthisindustrybuthowhasit
affectedtheIndianengineeringcompaniesinoilandgassector?Arethereanyothernegativeaffects
whichIndiamighthavetofaceduetothissituation?
1

Reply Share

RaghavanKrishnan 2monthsago

ExciseDutycanberaisedonceagainonDieselandPetrolwithoutalteringconsumerprice......Fiscal
Deficitcancomeundercontrolwithoutmucheffort.....commonmanshouldbesatisfiedsincethereisno
increaseinpetrolanddieselprices...GodhasbeenkindtothisGovernment
1

Reply Share

JAGANNATH>RaghavanKrishnan 2monthsago

Whydon'tyouunderstandthedifferencebetweennowpayandthattimepay.Withdearness
allowanceiftheywouldstartincreasethepetroleumproductspricethenimagine..

Reply Share

vk>RaghavanKrishnan 2monthsago

Bogankhujlipappuexplainhow?Veryprecisely.Moronliarswantsgoldlikehidingblackmoney
butnokhujlipapaudon'tunderstand?Why?Noorderfrommaster?Iusedtothirdyouas
unbiasedcommentatorbutafteryournoninformedcommentsistartedabuseandwillgoontilllairs
goingon.

Reply Share

AshwaniKumarAggarwal 2monthsago

PetrolpriceinPunjabisstillnearlyRs.8PerLitremoreexpensivethaninChandigarh.Petrolratein
PunjabshouldbeatParwithChandigarhrate(asitissourcedbybothstatesfromthesamesetof
refineries)
InPunjab,PetrolisnearlyRs.8PerLitremoreexpensivethaninneighbouringChandigarh(although
sourcedfromcommonsetofrefineries).DieselischeapestinPunjabinwholeofIndia
BJPinPunjabwhichwassupportingwithdrawalofWealthTaxprovisionsforSuperRichFarmers,should
nowlaunchanagitationforbringingpetrolpricesinPunjabatChandigarhlevel.

Reply Share

AshwaniKumarAggarwal>AshwaniKumarAggarwal 2monthsago

WorldwidepricesofPetrolandDieselarenearlysame.
PetrolisNonVoteBanksfuelasitisisusedbytheMiddleClassesinMopedsScootersMotor
CyclesSmallCarslikeMaruti800TataNanoetc.
DieselVoteBanksisusedbytheRichinLuxuryCarsSUVs/RichFarmersetc.

Reply Share

AshwaniKumarAggarwal>AshwaniKumarAggarwal 2monthsago

PhysicallyHandicappedIndiansshouldbegivenPetrolatCostPricewhichisRs12Per
Litre

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Someblah>AshwaniKumarAggarwal 2monthsago

Whynotfree?
AndwhyonlyfreePetrol,whynotafreehouse,1kgoffreeGold,andfreeWifitoo.
Alsoafreewife!

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RS 2monthsago

Thereisamessageinthepressthatthegovernmentistryingtoreducethedeficitofthebudget.Butsince
independenceeachandeverygovernmentpresentingadeficitbudgetonly.Whatmadetothegovernment
topunishthepeoplebymakingtopaysuchheavydutyandtaxesonoilpricestocoverupthedeficitnow?

http://www.ibnlive.com/news/business/globalcrudeoilpricecrashwhogainsthemostinindia1186520.html

8/9

3/8/2016

Globalcrudeoilpricecrash:WhogainsthemostinIndiaIBNLive
Actuallythecorruptionandmishandlingoftheeconomybythepoliticianonlyputustothishardship.

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RS 2monthsago

Thisisthetimetoreducetheexciseandlocaltaxesinoilproductsandopentoothercompaniesalsoso
thatacompetitionwillbecreatedandthepriceswillalsoremainlow.Becauseofarrivalofnewcompanies
newjobsopportunitieswillalsocreated,priceswillcomedown,willhelpthemanufacturingunitsfrom
heavytransportationcharges.Inthecurrentsystem,thoughtheoilpricesarereducedlittlebit,the
transportationchargeshasnotcomedownbecauseofothercostincreasing.Mainlytherailwaysandstate
governmenttransportcorporationnotreducedtheirfarebuttryingtoincreasefurther.Therailwaysalready
increasedthefareona/ccoaches.IfthispositioncontinuesdefinitelyitwillaffecttheMAKEININDIA
programalso,andasIndianwehavetosufferbecauseoftheinefficiencyofthegovernment.

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MKRao 2monthsago

Ithinkthepricesofthefuelshouldbeincreasedmoretodiscouragewastageoffuelwhichofwhich80%
weimportedthroughscarceforeigncurrency.Moreconsumptionofthesamewillalsoleadtomore
pollution.IhopeMr.Kejriwalasksthecentralgovttoincreasesthesurcharge,1.togetmorerevenuetothe
stateand2.toreducethepollution.

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PrP 2monthsago

Doesthisgovtslashpetroldeiselpricestohalftheprice.Idontthinkso,allthegovt'sreadytogiveaway
thedoughtothecorporatesbutnottothepublic.HopeKejriwalwouldbethe1stonetoslashthefuel
prices.theneverygovtwilltakeit.Letseehowthispricedramawouldbeplayedonourface.

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