India`s First & Only Website for Petrol Pump Users of 6 Major Cities: Find the best petrol station near your home or work. Networks of several websites that can help you find the best experience of getting your vehicles thirst quenched. When you enter information voluntarily about a petrol station you help fight against high prices, bad service, fuel pilferage and cheating. Our aim is to get the consumers of Petrol, Diesel, CNG and LPG the best service possible from petrol stations of your choice. Improvement of retail services will help both the petrol pumps to improve and customers to get a no non-sense customer service. Save Planet, Paisa and Petrol. TM
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Old Fuel prices: July 2009
CMs asked to cut sales tax
03 July 2009;hindustantimes.com:Anupama Airy:New Delhi: In what could bring down consumer prices of petrol and diesel by up to Re 1 a litre, Petroleum Minister Murli Deora has asked all chief ministers to consider reducing sales tax rates on them. Current VAT (value added tax) rates applicable on petrol and diesel in states range anywhere between 10 and 33 per cent and depending on the level of reduction of taxes by states, prices could be reduced by up to Re 1 a litre on petrol and 50 paise a litre on diesel. The impact of sales tax levied on petrol and diesel can be seen from the fact that out of the Rs 4 per litre increase in petrol price, only Rs 3.33 per litre goes into the kitty of the oil companies while the rest goes as sales tax to the state governments. Similarly, against the retail price increase of Rs 2 per litre in diesel, oil firms would get only Rs.1.78/litre and the balance would go to the states. States levying higher sales tax like Andhra, Tamil Nadu, West Bengal, Maharashtra, MP, Rajasthan and Kerala can easily rationalise taxes to pass on the benefit to consumers. Deora told HT that he on June 23 wrote to all CMs, asking them to consider reducing taxes on petrol and diesel, especially in the wake of rising international oil prices, so that the impact of high crude prices on the consuming public can be capped. A similar communication, he said, was sent to the West Bengal finance minister, who is also chairman of the Empowered Committee of State Finance Ministers.
01 July 2009;dailypioneer.com:New Delhi:Days before the general budget, the government on Wednesday increased petrol and diesel prices by Rs four and Rs two a litre respectively effective midnight tonight, but spared kerosene and domestic cooking gas from a hike. "The hike was necessitated because of rising international crude oil prices which have doubled to USD 70 a barrel since December," Petroleum Minister Murli Deora told reporters here. The issue was not taken to the Cabinet, as is done generally, but Deora consulted party leadership and Prime Minister Manmohan Singh to decide on the hike. The decision would help garner Rs 13,000 crore this fiscal, although the oil companies were projecting a loss of Rs 39,000 crore before the hike. The decision comes ahead of the July 6 budget day. Parliament's budget session is to begin tomorrow and clearly the government wanted to take a decision before that.
01 July 2009;economictimes.indiatimes.com:Chanchal Pal Chauhan:NEW DELHI: Declining interest rates and easy availability of credit have increased the number of cars sold through loans by 15% in the past six Things to remember while purchasing a vehicle months. Around 70% of new cars sold now are financed through loans compared with 55% a year ago when loans became unattractive due to high interest rates and a credit crunch. The major push has come from PSU banks such as State Bank of India, the country’s largest bank, which has emerged as the second-largest disburser in the car finance business after HDFC Bank. PSU banks are offering car loans at 10% while private banks like HDFC, ICICI and Kotak Mahindra are offering them at 11.5-13%. Hyundai Motor India senior vice-president (sales & marketing) Arvind Saxena said, “It’s a big positive development. Easier finance will expand the car market and generate fresh demand. We are expecting healthy increase in car sales in the next few months.” In 2007, when the interest rate were in single digits, over 80% cars sold were financed and led to rapid rowth in car sales. Bankers say customers are milking the rapid fall in interest rates over the past six months and making fewer cash down purchases. “Though India was not impacted by the global economic downturn, the general improvement in sentiment has boosted the retail finance market. The low interest rate has prompted customers to go for loans instead of cash deals,” said HDFC Bank executive vice-president for auto loans, Ashok Khanna. According to five bankers and financiers ET spoke with, the percentage of cars sold on loans is likely to go back to the peak 80% after the Budget. “We have eased lending norms and almost doubled the dispersal funds for auto. There has been a huge rush of customers opting for the 10% fixed rate on auto loan,’’ a senior executive of SBI Bank said, requesting anonymity. This change comes almost a year after the government eased lending norms and pumped liquidity in the market to stimulate demand. Car sales grew 3.29% to 2.16 lakh units in April-May period over last year and the growth is likely to increase with several banks likely to drop interest rates in the near future.
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