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| Petrol and diesel prices increased by a total of Rs 10 per liter during 22 March - 6 April. Petrol is selling at Rs 105.41 per liter in the national capital while diesel costs Rs 96.67 per litre. |
New Delhi, Business Desk. Head of the state Narendra Modi on Wednesday asked the state legislatures to lessen the Value Added Tax (VAT) on petroleum and diesel, in a question of help for the everyday citizens experiencing expansion. In a virtual gathering with the Chief Ministers of the states, the Prime Minister said that the Center had diminished the extract obligation on fuel in November last year and furthermore mentioned the states to decrease their duties.
Cost began expanding from 23 March
Petroleum and diesel costs have expanded after 23 March. Petroleum is being sold above Rs 100 for every liter in many spots, which is expanding expansion and influencing the financial plan of individuals. After this allure of PM Modi, the strain has expanded on those states where the overall population needs to pay the greater part the expense on 1 liter of petroleum evaluated at Rs 100 or above. These incorporate many enormous conditions of the country.
Tax (Excise + VAT) on petrol in these state
Maharashtra Rs 52.5 a liter
Andhra Pradesh Rs 52.4 a liter
Telangana Rs 51.6 a liter
Rajasthan Rs 50.8 a liter
Kerala Rs 50.2 a liter
Madhya Pradesh Rs 50.6 a liter
Bihar Rs 50 a liter
Tamil Nadu Rs 48.6 a liter
Jharkhand Rs 47 a liter
(Source: Petroleum Planning & Analysis Cell)
85 percent dependent on oil imports
Explain that India is 85 percent dependent on crude oil imports to meet its requirement. The retail price of petrol is made up of 3 different components - the base price which is the cost of international oil, the central excise duty and state taxes (VAT). Both the central and state governments levy taxes on these products.
How is the price of petrol decided in Delhi?
Petrol base price - Rs 56.32 a liter
Freight etc - Rs 0.20 a liter
Oil without VAT and Excite to dealers - Rs 56.52 a liter
Now Excite Duty - Rs 27.90 a liter
Dealer Commission - Rs 3.86 a liter
VAT - Rs 17.13 a liter
Net Price - Rs 105.41 a liter
