Petrol & Diesel Cost – Net Price
Petrol & Diesel Making Possessing Charges Cost Price and Net Price Today Price
Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp plan to implement daily revision of fuel price in five cities from 1 May, according to a Reuters report. This is a precursor to a nation-wide roll-out, says the report.
ICO, HP, BP companies currently revise fuel prices every fortnight to reflect volatility in the currency and global oil markets. The move is aimed at introducing international standards in the Indian fuel retail market. The rollout of “daily dynamic pricing” in five cities will help them identify the problems ahead of a nationwide rollout of the scheme later this year, the sources have told Reuters. Private fuel retailers such as Reliance Industries and Essar Oil are expected to follow the government-run companies and start daily price revision.
Petrol & Diesel Making Possessing Charges Cost Price and Net Price the government taxes on petrol and diesel are around 50 per cent of the fuel cost. However, GST has four taxes brackets with highest 28 per cent. If the GST Council decides to bring these products under the new tax regime then the prices would come down at least by 22 per cent, presuming that the Council puts it in the highest bracket of 28 per cent due to fear of exchequer loss. This calculation has prompted the Minister to say that bringing petroleum products under the GST is the ‘only way for rational fuel prices’. Ahead of the GST launch on July 1, Finance Minister Arun Jaitley had said that the Centre was all for inclusion of petroleum products under the new taxation system and sooner or later the GST Council will have to take a decision on it. Jaitley further said: “As was decided by the Empowered Committee of states’ Finance Ministers, we have brought petroleum in the constitutional amendment for the GST. It is zero rated and tax will only be applied when the GST Council decides.”
Today’s Petrol & Diesel Price.
Petrol and Diesel Product Making Charges Cost Prepare for Rs 31 as petrol Indian Oil, Hindustan Petroleum and Bharat Petroleum refine crude oil. According to a Catch News report, these companies pay 21.50 rupees for a liter crude. After that, entry tax, refinery processing, landing cost and other operation cost have been added. After that, refining a liter crude costs 9.34 rupees.
Which means that oil companies cost about Rs 31 a day to produce a liter of petrol. In the country, Rs 79 is being paid for a liter of petrol in the country. So the tax charged on petrol is responsible for it.
This is the reason why consumers do not get the benefit Even though such a cheap petrol is ready, why are not customers getting the benefit? It’s also like to know. Oil firms prepare one liter petrol at only Rs 31 a liter. But then the tax is levied on the Central Government. That is, you pay only Rs 48 for a liter of petrol. Since the year 2014, the central government has increased the excise duty on petrol by 126%. While the increase in diesel duty has been increased by 374%.
It may be recalled that there was a time when petrol and diesel prices were hiked by 50 paise or Rs one rupee. But petrol and diesel prices have reached the top three year high. But no one is paying attention to it. One reason for this is the dynamic pricing system. The central government has implemented a dynamic pricing system nationwide from June 16. Under which petrol-diesel prices are changing every day.
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SOURCE : READ MORE IN GUJARATI