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Petrol Price Breaches Rs 100 Mark in Rajasthan's Sri Ganganagar; Guwahati Not Far Behind

Petrol prices in Guwahati have been turning volatile, as prices of crude oil have been showing a firm trend, Assam govt likely to revise in coming days

Petrol Price Breaches Rs 100 Mark in Rajasthans Sri Ganganagar; Guwahati Not Far Behind

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  27 Jan 2021 2:11 PM GMT

GUWAHATI: With the steep hike in the price of vehicle fuel across the country, vehicle owners are now shelling out as much as Rs 100/litre for petrol.

In the latest round of price revision in fuel oil which is market-determined, the price of petrol in Sri Ganganagar in Rajathan has reached Rs. 98.40 per litre whereas premium petrol has reached Rs. 101.80 per litre.

This is the first time ever that even premium fuels have breached the Rs 100 per litre mark.

Notably, Rajasthan Petroleum Dealers Association (RPDA) President Sunit Bagai said that the body has already given a memorandum to the state government protesting against the highest VAT in the country on automobile fuels.

Meanwhile, in Guwahati, the price of fuel oil is constantly flirting around Rs 90/litre.

As of January 27, the price of Petrol cost- Rs. 89/litre while a litre of diesel cost Rs. 82.60 while extra premium or power petrol stands at Rs 91.74/litre.

In Assam, the price of petrol, diesel, and liquor is said to come down from February 2020 as the state government will withdraw additional Covid related taxes from next month.

Earlier this month State's Finance, Health and Education Minister, Himanta Biswa Sarma said, "All the additional Covid taxes imposed during the COVID-19 epidemic will be withdrawn while I will present the vote on account."

Covid taxes on these products were levied by the government last year to revive the state economy devastated after the novel coronavirus hit the state.

Prices of petrol and diesel across the country are market-determined and attract uniform central excise duty, but their prices differ from state to state because of the wide variations in the local levies or value-added tax (VAT).

It is to be noted that taxes, duty and dealer's commission collectively rake up the cost of fuel which is one of the largest sources of indirect taxes for the government.

The Oil companies' executives said that petrol and diesel prices may increase further in coming days as retail prices may have to be balanced in line with the global developments to prevent OMCs from making losses on the sale of auto fuels.

Speaking to Sentinel, one of the owners of a petrol bunk said, "We are helpless with the situation. It is the government who is making a slab."

"We also have to take in the dealers commission into consideration," he added.

PETROL TAXES

Cost of petrol minus levies and commission comprises only 32 per cent of what a buyer pays at the petrol pump station. Tax and duty components (total cost minus base price and dealer's commission) on petrol in Delhi comprise around 64 per cent or Rs 52.35 per litre.

The Centre charges Rs 32.98 (125 per cent of the base price) as excise plus the respective state government charges per litre on petrol Value-added Tax (VAT).

TAXES ON DIESEL

Dealer's commission is Rs 2.53 per litre on diesel against Rs 3.65 on petrol. The total tax and duty component on diesel is Rs 42.81 per litre.

In percentage terms, the total tax on diesel is over 59 per cent. The Centre gets Rs 31.83 (over 117 per cent of the base price) per litre of diesel as excise duty.


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