Petrol, diesel price: Almost 70% of what you pay goes towards taxes
Updated: 06 May 2020
Employees of Auto Motives Hindustan Petroleum petrol pump wearing Personal Protective Equipment Kit (PPE Kit) while attending to the customers, in New Delhi, on Sunday. (ANI Photo)
Excise duty on petrol has increased to ₹32.98 per litre and that on diesel to ₹31.83
NEW DELHI : To shore up revenues during the lockdown, the government has hiked excise duties on petrol and diesel with effect from today. Since crude oil rates have lost by over 60% from its this year's peak, the excise duty hike would not lead to a hike in retail selling price of the two automobile fuels.
Excise duty has been increased by a record ₹10 per litre on petrol and ₹13 per litre on diesel. The government hopes to garner ₹1.6 lakh crore additional revenue with the hike. With this, the total incidence of excise duty on petrol has risen to ₹32.98 per litre and that on diesel to ₹31.83.
Petrol costs ₹71.26 a litre in Delhi and a litre of diesel comes for ₹69.39.
Petrol:
Base Price: ₹17.96 per litre
Freight: ₹0.32 per litre
Price charged to dealers (excluding Excise Duty and VAT): ₹18.28 per litre
Excise Duty: ₹32.98 (includes basic excise duty of ₹2.98, Special Additional Excise Duty of ₹12 and Additional Excise Duty for road and infrastructure cess of ₹18)
Average dealer commission: ₹3.56 per litre
VAT (including VAT on Dealer Commission): ₹16.44
Retail Selling Price at Delhi: ₹71.26
(The price includes basic customs duty of 2.5%, additional customs duty of ₹2.98 per litre and additional customs duty of ₹10.)
Diesel:
Base Price: ₹18.49 per litre
Freight: ₹0.29 per litre
Price charged to dealers (excluding Excise Duty and VAT): ₹18.78 per litre
Excise Duty: ₹31.83 per litre (Basic excise duty of ₹4.83, Special Additional Excise Duty of ₹9 and Additional Excise Duty for Road and infrastructure Cess ₹18)
Average dealer commission: ₹2.52 per litre
VAT (including VAT on Dealer Commission): ₹16.26 per litre
Retail Selling Price in Delhi: ₹69.39 per litre
(The selling price also includes Basic Customs Duty of 2.5%, Additional Customs Duty (CVD) of ₹4.84 per litre and Additional Customs Duty of ₹10.)