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Petrol Prices Hiked
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TOPIC: Petrol Prices Hiked

Petrol Prices Hiked 4 years, 9 months ago #1147

In one of the steepest increase in petrol prices, the common man is very agigated. With inflation already high, burden of increased petrol prices will further worsen his monthly expenses bill. Was petrol price inevitable or government could have absorbed it...

Re: Petrol Prices Hiked 4 years, 9 months ago #1148

  • mansin
  • Expert
  • Posts: 97
  • Karma: 3
As per finance minister, Under-recoveries in case of diesel is Rs 14.50 per litre, in case of kerosene, Rs 31.88 and in case of LPG, Rs 412 per cylinder of 14 kg. Under-recoveries of oil marketing companies could be in the region of Rs 1,39,000 crore. The oil companies have lost $830 million on selling petrol below cost in the last six months. Price of oil is deregulated and is governed by oil marketing companies. The government compensates oil marketing companies for selling diesel, LPG gas and kerosene at a loss while petrol losses are not subsdized. With rupee appreciating to levels of 56 to dollar, oil companies were facing huge losses and it was business sense to increase the prices. There was no option left before them than to increase the prices
The following user(s) said Thank You: mmreddy007

Re: Petrol Prices Hiked 4 years, 9 months ago #1152

in order to reduce the rising fiscal deficit govt. needs to increase the diesel as well as LPG prices....it may be announced in few days time

Re: Petrol Prices Hiked 4 years, 8 months ago #1166

if the petrol prices have been deregulated then when international crude oil prices have fallen then the petrol prices should also be reduced, this deregulation should not be unidirectional..

Re: Petrol Prices Hiked 4 years, 8 months ago #1170

can anybody provide the break up of the petrol price, what is excise duty, how much is VAT, dealer commission etc...

Re: Petrol Prices Hiked 4 years, 8 months ago #1179

C&F (Cost & Freight) Price of Gasoline (Petrol) BS-III equivalent
$/bbl 115.77

Average Exchange rate
`/$ 54.96

Refinery Transfer Price (RTP) on landed cost basis for BS-IV Petrol (Price Paid by the Oil Marketing Companies to Refineries)
`/ltr 40.94

Price Charged to Dealers (excluding Excise Duty & VAT)
`/ltr 43.03

Add : Specific Excise Duty @ 14.78/Ltr (14.35/ Ltr+ 3% Education cess)
`/ltr 14.78

Add : Dealer Commission
`/ltr 1.50

Add : VAT (including VAT on Dealer Commission) applicable for Delhi @ 20%
`/ltr 11.86

Retail Selling Price at Delhi (Rounded off)
`/ltr 71.17

Re: Petrol Prices Hiked 4 years, 8 months ago #1182

  • poojad
  • Expert
  • Posts: 130
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The state government should reduce the VAT to reduce the burden on the common man....Goa government has totally abolished the VAT. The other governments at least can reduce the tax...
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