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Petrol prices hiked 39 times, diesel 36 times since April

Petrol prices hiked 39 times, diesel 36 times since April

Fuel prices remained unchanged 64 times for petrol and 66 times for diesel, said the Minister of State for Petroleum and Natural Gas

Petrol prices were cut once, while diesel prices were cut twice Petrol prices were cut once, while diesel prices were cut twice

Petrol prices were hiked 39 times and diesel 36 times in FY22 till July 30, said the government in the Lok Sabha. Petrol prices were cut once, while diesel prices were cut twice. Fuel prices remained unchanged 64 times for petrol and 66 times for diesel, said Minister of State for Petroleum and Natural Gas, Rameswar Teli. 

Price of non-subsidised LPG has been increased once and decreased once till July 1.

The ministry was asked by the opposition: Will the Minister of Petroleum and Natural Gas please state: the current prices of crude oil in the country and the number of times the price of petroleum products has been hiked during the last one year in the country and the extra amount spent by the citizens in total on petrol/ diesel/LPG, state-wise along with the reasons for unprecedented rise in the same and and effect on the consumers in terms of GDP.

According to the ministry, the price for a basket of crude oil in India in July is $74.36 per bbl. In June it was $71.98, in May $66.95 and in April $63.40 per bbl.

Out of the states, Manipur sees some of the highest taxes on fuel at 36.50 per cent VAT (value added tax), while Rajasthan sees 36 per cent VAT plus Rs 1,500/KL road development cess. Telangana sees 35.20 per cent VAT, while Karnataka sees 35 per cent sales tax.

Delhi sees 30 per cent VAT, while Mumbai, Navi Mumbai and Thane see 26 per cent VAT plus Rs 10.12/litre additional tax. Rest of Maharashtra sees 25 per cent VAT plus Rs 10.12/litre additional tax, as per data on April 1.

Total Central excise duty levied on branded petrol is Rs 34.10 per litre, while for diesel it is Rs 34.20 per litre, with effect from February 2. For unbranded petrol, the Central excise duty is Rs 32.90 per litre and Rs 31.80 per litre for unbranded diesel.

“The prices of petroleum products in the country are benchmarked to international product prices. Generally, the price of petroleum products in the country are higher/lower than other countries due to a variety of factors, including prevailing tax regime and subsidy compensations by the respective governments, the details of which are not maintained by the government,” said the ministry.

When asked if there are any plans to bring fuel under the ambit of Goods and Services Tax to control the prices, the ministry said, “Article 279 A (5) of the Constitution prescribes that the Goods and Service Tax Council shall recommend the date on which the goods and services tax be levied on petroleum crude, high speed diesel, motor spirit (commonly known as petrol), natural gas and aviation turbine fuel (ATF), also as per the Section 9(2) of the CGST Act, inclusion of these products in GST will require recommendation of the GST Council. So far, the GST Council has not recommended inclusion of oil and gas under GST. At present, there is no proposal to bring these five goods under GST.”

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