Hike in Price of Petrol and Diesel
GOVERNMENT OF INDIA
MINISTRY OF PETROLEUM AND NATURAL GAS
LOK SABHA
UNSTARRED QUESTION NO. 3879
TO BE ANSWERED ON 23 MARCH, 2023
Hike in Price of Petrol and Diesel
3879. SHRI PRADYUT BORDOLOI: SHRI GAURAV GOGOI:
Will the Minister of PETROLEUM AND NATURAL GAS be pleased to state:
(a) the details of every hike in prices of petrol and diesel since 2014 along with corresponding prices of international crude oil for those dates;
(b) the details of total tax revenues generated from excise duties on petroleum, diesel and other petroleum products since 2014, year-wise; and
(c) whether the Government has initiated negotiations with the States after its claims of waiting on approval from the States for the imposition of GST on petroleum products and if so, the details thereof?
ANSWER
MINISTER OF STATE IN THE MINISTRY OF PETROLEUM AND NATURAL GAS
SHRI RAMESWAR TELI
(a) to (c): Prices of petrol and diesel in the country have been market-determined with effect from 26.06.2010 and 19.10.2014 respectively. Since then, the Public Sector Oil Marketing Companies (OMCs) take appropriate decision on pricing of petrol and diesel. Effective 16 June, 2017, daily pricing of petrol and diesel has been implemented in the entire country. The details of daily prices of petrol and diesel are available at www.ppac.gov.in. Public Sector Oil Marketing Companies (OMCs) have not increased prices of petrol and
diesel since 6th April 2022.
The yearly average international prices of Indian basket of Crude oil since 2014-15 are given below:
|
Year
|
Average
Indian Basket (USD/Barrel)
|
|
2014-15
|
84.16
|
|
2015-16
|
46.17
|
|
2016-17
|
47.56
|
|
2017-18
|
56.43
|
|
2018-19
|
69.88
|
|
2019-20
|
60.47
|
|
2020-21
|
44.82
|
|
2021-22
|
79.18
|
|
2022-23 (Till 17.03.2023)
|
93.90
|
Source: Petroleum Planning and Analysis Cell
The crude oil price in USD/Barrel terms does not reflect the depreciation of INR/USD exchange rate.
The details of contribution to Central Exchequer from excise duty on petroleum products since 2014 are given below:
(Rs. in Crore)
|
Year
|
Contribution
to Central Exchequer from excise duty on petroleum
products
|
|
2014-15
|
99,068
|
|
2015-16
|
1,78,477
|
|
2016-17
|
2,42,691
|
|
2017-18
|
2,29,716
|
|
2018-19
|
2,14,369
|
|
2019-20
|
2,23,057
|
|
2020-21
|
3,72,970
|
|
2021-22
|
3,63,305
|
|
2022-23 (P)
(April-Dec 2022)
|
2,03,171
|
The above is based on data provided to Petroleum Planning and Analysis Cell (PPAC) by 15 major oil
& gas companies.(P) – Provisional
(c): The GST Council in its 45th meeting held on 17th September, 2021 had considered the inclusion of Petrol/Diesel and other petroleum products under the GST regime but the matter was deferred by the Council till larger deliberations on account of its heavy repercussions on the exchequer. The issue has not been taken up by the Council as an agenda item for any further deliberation subsequent to the said meeting.
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