In 2013, the price of crude was $ 120 per barrel, then the price of petrol was around Rs 76 per liter. . After all, why is petrol and diesel getting expensive even after the price of crude oil decreases?
Due to the 11 consecutive day hike in the prices of petrol and diesel, after Rajasthan, now in Madhya Pradesh and Maharashtra, the price of ordinary petrol has crossed the Rs 100 per liter level in many places. Today, the price of petrol has increased by 31 paise and the price of diesel by 33 paise. Petrol and diesel prices have increased for the 13th time in this month.
Continuation of rise in the price of crude oil continues. Benchmark crude oil Brent crude price has crossed $ 65 per barrel.
In the year 2018, the price of crude was $ 80 per barrel, then the customer had to pay 84 rupees for a liter of petrol. After all, why is petrol and diesel getting expensive even after the price of crude oil decreases?
Actually, the reason for the rise in the price of petrol and diesel is tax. Right now the center and state governments are charging 168 per cent tax on one liter of petrol. How to know that
According to the prices of 16 February 2021 on Indian Oil website-
The base price of one liter petrol in Delhi is 31 rupees 82 paise. After that it takes 28 paise to freight. . After this, it is charged 32.90 excise duty, which goes to the central government account. The dealer’s commission is Rs 3.68 and VAT is Rs 20.61 which is charged by the state governments. Combining all these, the price of one liter of petrol becomes 89.29. That means 168 percent of the base price was 53.31 percent.
The big thing is that now the government is levying excise duty more than the base price of a liter of petrol. At the same time, compared to 2014, the government has increased the tax on petrol and diesel by 217 percent.
Rajasthan charges maximum VAT on petrol
Fuel prices vary across states based on local taxes such as VAT and freight. Rajasthan charges the highest VAT on petrol in the country. In Rajasthan, 36 per cent VAT is charged on one liter of petrol and 26 per cent on one liter of diesel.
Madhya Pradesh’s number after Rajasthan
It is followed by Madhya Pradesh. In Madhya Pradesh, a tax of Rs 4.5 a liter and a cess on petrol is levied with 33 per cent. The tax on diesel is 23 per cent and three rupees per liter and one per cent cess.
Nidhi Malviya is fun loving girl. She writes at NoobFeeds about various topics related to Finance, Technology, Business etc.