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How does petrol-diesel become expensive by the base price, let’s know?

Saturday - March 2, 2019 11:34 am , Category : WTN SPECIAL
Money collected from taxes on petrol-diesel spends on development works – Government
Money collected from taxes on petrol-diesel spends on development works – Government

Know how the petrol-diesel prices fixed every day?

MAR 02 (WTN) - Do you know how the prices of petrol and diesel are fixed in the country? If you do not know, then we describe you today how the prices of petrol and diesel are determined every day in the country? For your information, let you know that the prices of petrol and diesel, in India, are first fixed by the international market. That is, due to fluctuations in the cost of crude oil in the international market, there is a decrease or increase in the price of petrol-diesel.

When crude oil is refined in India and it is ready to sell, prices of petrol and diesel at that time are called base prices. The price of petrol and diesel sold in our country is much higher than its base price. Where the price of petrol is almost two times the base price, then the price of diesel is almost one and a half times more than its base price.

For example, let’s know that on yesterday, the petrol was priced at Rs 71.81 per liter in Delhi, and the price of diesel was Rs 67.12 per liter. But if we talk about the base price of petrol and diesel, so the base price of petrol in Delhi was Rs 34.62 per liter on Friday and the base price of diesel was Rs 40.55 per liter.

Let us now discribe elaborately how petrol-diesel becomes expensive by its base price. Yesterday, the base price of petrol in Delhi was Rs 34.62 per liter on March 1, 2019. If it added transportation and other costs, then 39 paise is added to it. In this way the dealer got one liter petrol of Rs 35.01. Now many kinds of tax start on this.

First, the excise duty is Rs 17.98 on a liter of petrol, after which the price of petrol became Rs 52.99 per liter. Now the commission of the dealer gets added at the rate of Rs 3.55 per liter, after which the price of one liter petrol became Rs 56.54. Now it takes the VAT at Rs 15.27 per liter, due to which the price of petrol in the national capital of Delhi was Rs 71.81 per liter on yesterday.

Now let us describe you about the price of diesel in detail, that is, yesterday i.e. 1 March 2019, the base price of diesel in Delhi was Rs 40.55 liters. If it was added to 36 paise per liter of transport and other costs, then the dealer got a liter diesel at Rs 40.91. Now, diesel is charged at the rate of Rs 13.83 per liter excise tax, after which the cost of one liter diesel went up to Rs 54.74 per liter. Now the dealer commission is added to the amount of Rs 2.50 per liter, after which it costs Rs 57.24. In the last, if the VAT was included of 9.88 rupees, it was cost Rs 67.12 a liter.

In this way, petrol and diesel prices are fixed in different cities every day. After the VAT and dealer commission along with transportation and other costs in every state, prices of petrol and diesel are much higher than the base price. On the question of the high rate of taxes on petrol-diesel, the central and state governments argue that the money received from this tax is spent in the development work of the country.