In India, Petrol prices are increasing day by day. Petrol prices has touched a record high of Rs 100 / litre in many states. But do you know that petrol prices are indirectly linked to price of crude oil in international market. Moreover, the central government and states levy various taxes i.e. excise duty and Value Added Tax (VAT) on petrol .
Price of one barrel of Crude oil in international costs Rs. 5453 ($73). In one barrel there is 159 litres of petrol. Price of one litre of petrol is Rs. 34.29. In addition there are freight and insurance charges too. After refining crude oil different petrol products are made for example petrol, diesel ,LPG and many others.
Center government charges excise duty of Rs. 33/ litre and state government charges VAT (Value Added Tax) of Rs.26.86 /litre (Mumbai). In addition to this there is dealer’s commission of Rs. 3.6.
Tax we are paying is more than the actual cost of petrol. It also means that if the entire tax amount is withdrawn, petrol will be sold at a price less than half the current retail price.
Excise Duty + VAT
> Petrol retail price
To bring prices of petrol and diesel under control there is a need to implement GST (Goods & Services Tax. Read here for more information - https://sahilmadaanblogs.blogspot.com/2021/07/what-if-petrol-and-diesel-comes-under.html
9th July,2021 Check State-wise List Of Fuel Prices
CITY | PETROL PRICE ( ₹/L ) |
| Agra | 97.37 ₹/L |
| Ahmedabad | 97.35 ₹/L |
| Allahabad | 97.70 ₹/L |
| Aurangabad | 107.83 ₹/L |
| Bangalore | 103.93 ₹/L |
| Bhopal | 108.88 ₹/L |
| Bhubaneswar | 101.37 ₹/L |
| Chandigarh | 96.70 ₹/L |
| Chennai | 101.37 ₹/L |
| Coimbatore | 101.86 ₹/L |
| Dehradun | 97.10 ₹/L |
| Delhi | 100.56 ₹/L |
| Erode | 101.94 ₹/L |
| Faridabad | 98.51 ₹/L |
| Ghaziabad | 97.58 ₹/L |
| Gurgaon | 98.22 ₹/L |
| Guwahati | 96.34 ₹/L |
| Hyderabad | 104.50 ₹/L |
| Indore | 108.95 ₹/L |
| Jaipur | 107.37 ₹/L |
| Jammu | 99.87 ₹/L |
| Jamshedpur | 95.66 ₹/L |
| Kanpur | 97.33 ₹/L |
| Kolhapur | 106.67 ₹/L |
| Kolkata | 100.62 ₹/L |
| Kozhikode | 100.97 ₹/L |
| Lucknow | 97.67 ₹/L |
| Ludhiana | 102.20 ₹/L |
| Madurai | 101.93 ₹/L |
| Mangalore | 103.13 ₹/L |
| Mumbai | 106.59 ₹/L |
| Mysore | 103.49 ₹/L |
| Nagpur | 106.35 ₹/L |
| Nashik | 106.92 ₹/L |
| Noida | 97.78 ₹/L |
| Patna | 102.79 ₹/L |
| Pune | 106.16 ₹/L |
| Raipur | 98.58 ₹/L |
| Rajkot | 97.13 ₹/L |
| Ranchi | 95.70 ₹/L |
| Salem | 102.18 ₹/L |
| Shimla | 98.19 ₹/L |
| Srinagar | 103.44 ₹/L |
| Surat | 97.35 ₹/L |
| Thane | 106.72 ₹/L |
| Thiruvananthapuram | 102.54 ₹/L |
| Trichy | 101.81 ₹/L |
| Vadodara | 97.01 ₹/L |
| Varanasi | 98.41 ₹/L |
| Visakhapatnam | 105.52 ₹/L |
Writer- Sahil Madaan
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