Discover and read the best of Twitter Threads about #fuelpricehike

Most recents (9)

Ukraine, state taxes and electric vehicles: How BJP is defending sky-high fuel prices

Critics, though, point to Central taxes being the major factor behind the #FuelPriceHike

By @UmangPod
Critics often complain that the Centre only increases and never reduces domestic prices based on international prices.

For instance, while Int'l oil prices plummeted during the pandemic, oil prices in India remained the same as the govt increased excise.
The BJP and its supporters have attempted to manage the political fallout of this steep rise by offering a host of excuses for why #FuelPrices are shooting up.

@UmangPod looks into some of those excuses and what experts and opposition have to say.
Read 7 tweets
SIMPLY PUT: Will #Petrol Prices In India Stabilise Anytime Soon?

#FuelPriceHike #PetrolDieselPriceHike

There are two things for certain that Indians are talking about this week – #PetrolPrice, and of course, the sweltering heat. After 9 out of 10 days of #FuelPriceHike, there are high chances that people might be talking about the fuel price rise more than the scorching sun.
Crude oil prices have been skyrocketing for several reasons that seem to be beyond the control of any country’s govt. Even the market can feel the impact of rising crude oil prices. The @StocktwitsIndia Stock Room Sunday episode discusses this in detail.

Read 9 tweets
For those worried about #FuelPrices for cars: if you drive significant distances then you can *easily* reduce your fuel costs by around 40%. tl;dr speed kills fuel efficiency and driving slower makes a *big* difference /1
Most cars get their best fuel efficiency between 50 km/hr and 80 km/hr. Above 80 km/hr the majority of your fuel is being used to push the air in front of your car out of the way. /2
If you drive at 100 km/hr along a particular stretch of road then you will use about 50% more fuel than if you drive at 80 km/hr to cover that *same stretch of road*. /3
Read 6 tweets
The damage to Economy & the loss of National wealth under Modi is just mind boggling . #IndianEconomicCrisis
India's manufacturing sector, which constitutes 77.63 % of the Index of Industrial Production (IIP), grew 2% in October, according to data released by the National Statistical Office (NSO) on Friday.…
🎅Ji is Robin hood in reverse, loots from poor people & gives to the select few Rich people
Banks write off Rs 2.02 lakh cr in FY21; Rs 10.7 lakh cr in last 7 years
#IndianEconomiccrisis #ModiMadeDisaster…
Read 60 tweets
"UPA government had reduced #FuelPrices by issuing Oil Bonds of Rs 1.44 lakh crores. I can't go by the trickery played by them. Due to Oil Bonds, the burden has come to our government, that's why we are unable to reduce prices of petrol and diesel": FM Nirmala Sitharaman

"People are right to be concerned. Unless the Centre and states discuss a way out, there is no solution possible to this": Finance Minister Nirmala Sitharaman on #FuelPriceHike

"There will be no cut in excise duty on fuel as of now. Exchequer is burdened by interest payments being made for oil bonds floated by UPA Govt. Government has paid over 70,195.72 crores interest in the last 5 years on oil bonds itself": Finance Minister Nirmala Sitharaman

Read 4 tweets
#LokSabha begins discussion on #Constitution (127th Amendment) Bill.
Protests have subsided for the time being.

Dr. Virender Kumar, Minister of Social Justice speaks on the Bill, claims that states will have the right to notify OBC lists for their states.

Adhir Ranjan Chowdhary, INC on #Constitution (127th) Amendment Bill:
- We had warned Govt in 2018 that states rights were being taken away, but Govt didn't listen. Wasted its time and money in Supreme Court petition
- Govt has majority, so doesn't listen

Chowdhary continues on Constitution #OBCreservation Bill:
- When states started protesting, people started protesting and with an eye on election, you brought this Bill now
- But we also demand that 50% ceiling be removed, approach SC, let states decide

Read 58 tweets
To give much-needed relief to farmers as well as the common man and trade & industry, I urge the Union government to bring down Petrol & Diesel prices by taking back the recent #FuelPriceHike. The #Congress govt in Punjab should also take back the hike in State VAT on #Fuel. 1/3 Image
The consecutive hike in fuel prices over the last 16 days is causing a lot of stress to the country’s economy which is still reeling from the effect of lockdown due to #COVID19. This has made petrol dearer by Rs 9.21/ liter & diesel by Rs 8.55 /liter. 2/3
The hike in fuel prices is also affecting the supply chain & is even putting a burden on those providing essential supplies during a time of #pandemic. The withdrawal is also justified keeping in view the unprecedented steep fall in international crude oil prices. 3/3
Read 3 tweets
Deregulation of OMCs is only on paper: Govt backtracks, asks OMCs to absorb Rs. 1 / liter cut in fuel cost
This move will cost OMCs Rs. 7000 crores in their books.Their profits would stands reduced to 32,600 cr (from 39,600cr FY’18) or 17.7% fall in the profits.

This move will cost OMCs Rs. 7000 crores in their books. Their profits would stands reduced to 32,600 crores (from 39,600 crores, FY’18) or 17.7% fall in the profits.

Govt will have lower collection of revenue by 10,500 crores as they cut the duty by 1.50 / liter
Asking OMCs to pay for costs of higher fuel prices is nothing short of bringing back of regulations of managing OMCs.

OMCs are public listed cos and they have other shareholders as well.
Read 7 tweets
@_Revolution18 @SAReserveBank @amaBhungane @OUTASA I asked th racist @OUTASA abt this but they blocked me😂 instead of answering my questions.

OUTASA is the same as @Corruption_SA,@Our_DA, FUL,AfriForum,HSF,FreedomUnderLaw,...their MANDATE isto portray BLACKS as corrupt

@_Revolution18 @SAReserveBank @amaBhungane @OUTASA @Corruption_SA @Our_DA ST GEORGE’S FINE FOODS should offer shares to Black staff members as part of reconciliation.

@_Revolution18 @SAReserveBank @amaBhungane @OUTASA @Corruption_SA @Our_DA WMC & their Black stooges hv taken a resolution to completely privatise South Africa electricity supply.

Eskom to retrench thousands of Black workers.

Who'll benefit frm Eskom destruction?
WMC,SACP,ANC veterans,Ramaphosa,Gordhans

Read 76 tweets

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