The Ministry of Petroleum and Natural Gas on Wednesday made it clear that the central government will not cut taxes on petrol and diesel. In response to a written question in the Rajya Sabha, Petroleum Minister Dharmendra Pradhan said that the government has no proposal to reduce the tax on petrol and diesel. He said that raising or lowering taxes on petrol and diesel depends on many aspects such as the needs of the government and market conditions.
Let us tell you that today the prices of petrol and diesel have reached a new record high due to the increase of 30 paise per liter. In the capital Delhi where petrol is getting Rs 87.60 per liter, the price of petrol in Mumbai is Rs 94.12. At the same time, diesel is being sold at Rs 77.73 in Delhi and Rs 84.63 per liter in Mumbai. So far in 2021, petrol prices have increased by Rs 3.89 per liter. At the same time, the price of diesel has increased by Rs 3.91 per liter.
Tax is so much on petrol and diesel
Last week, Petroleum Minister Dharmendra Pradhan had told in Rajyabha that the central government levies an excise duty of Rs 32.98 per liter on petrol and state governments levy Rs 19.55 as VAT. In this way, the government levies more than Rs 52 on a liter of petrol. At the same time, the central government levies excise duty of Rs 31.83 per liter on diesel and the state governments levy a tax of Rs 10.99 as VAT. That is, the government charges about 43 rupees on diesel. Apart from these, the dealer’s commission on petrol is Rs 2.6 per liter and at the dealer Rs 2 per liter.
Brent crude oil prices rise
The demand for oil increased due to the worldwide corona virus vaccine rollout, causing Brent crude oil prices to exceed $ 60 a barrel for the first time in the past 1 year. Hindustan Petroleum Corporation Limited (HPCL) Chairman Mukesh Kumar Surana said that the oil price increase in demand and supply by Millmatch and Saudi Arabia increased the retail price of oil.
