Oil Minister Dharmendra Pradhan mentioned in the present day that the price of home cooking fuel, LPG has doubled to (*7*)₹819 per cylinder in the final seven years whereas the rise in taxes on petrol and diesel has swelled collections by over 459%
In written replies to a spate of questions on rising gas costs in the Lok Sabha, Dharmendra Pradhan mentioned the retail promoting price of home fuel was (*7*)₹410.5 per 14.2-kg cylinder on March 1, 2014. This month, the identical cylinder prices (*7*)₹819.
“Prices of petrol and diesel have been made market decided by the federal government with impact from June 26, 2010 and October 19, 2014 respectively,” Pradhan mentioned. “Since then, the general public sector oil advertising corporations (OMCs) take applicable choice on pricing of petrol and diesel in line with their worldwide product costs, change fee, tax construction, inland freight and different price components.”
Small price hikes over the previous couple of years have eradicated subsidy on cooking fuel in addition to PDS kerosene.
Pradhan mentioned the price of home subsidised LPG has been raised throughout the previous couple of months. It price (*7*)₹594 per cylinder in December 2020 and now could be priced at (*7*)₹819.
Similarly, kerosene bought to the poor by way of the general public distribution system (PDS) has risen from (*7*)₹14.96 per litre in March 2014 to (*7*)₹35.35 this month, he mentioned.
Petrol and diesel costs too are at an all-time excessive throughout the nation.
The charges, which range from state to state relying on native gross sales tax (VAT), are at present at (*7*)₹91.17 a litre for petrol and (*7*)₹81.47 for diesel in Delhi.
With taxes accounting for the majority of the retail promoting price of petrol and diesel, the minister mentioned tax collected on the 2 fuels was (*7*)₹52,537 crore in 2013, which rose to (*7*)₹2.13 lakh crore in 2019-20 and swelled additional to (*7*)₹2.94 lakh crore in the primary 11 months of present fiscal yr.
The authorities at present levies (*7*)₹32.90 per litre excise responsibility on petrol and (*7*)₹31.80 a litre on diesel, he mentioned including that excise responsibility on petrol was (*7*)₹17.98 a litre in 2018 and (*7*)₹13.83 on diesel.
Pradhan mentioned the central authorities’s whole excise collection from petrol, diesel, ATF, pure fuel and crude oil has elevated from (*7*)₹2.37 lakh crore in 2016-17 to (*7*)₹3.01 lakh crore throughout April-January 2020-21.
Between November 2014 and January 2016, the federal government had raised excise responsibility on petrol and diesel on 9 events to remove features arising from plummeting international oil costs.
In all, the responsibility on petrol fee was hiked by (*7*)₹11.77 per litre and that on diesel by 13.47 a litre in these 15 months.
The authorities had lower excise responsibility by (*7*)₹2 in October 2017, and by (*7*)₹1.50 a yr later. But, it raised excise responsibility by (*7*)₹2 per litre in July 2019. It once more raised excise responsibility in March 2020, by (*7*)₹3 per litre every. In May that yr, the federal government hiked excise responsibility on petrol by (*7*)₹10 per litre and on diesel by (*7*)₹13 a litre.
* With inputs from PTI