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Fuel Price Calculation in INDIA
With Fuel Prices now getting changed Frequently, know how is fuel prices computed in India
Calculating Crude Oil Cost - Petrol & Diesel - 2016
If you reading Internationally, the price of crude Oil hovers at 50 Dollar
On Importing Oil - Barrel Cost + Ocean Freight at 2 Dollar needs to be paid - effectively implying - 52 $ per barrel as import cost. This is Equivalent to Rs 3485 in INR (keeping exchange rate at Rs. 67.02 / USD )
» 1 barrel of crude Oil is Equivalent to around 159 Litres of Crude Oil
» Raw Crude Oil in Indian Currency: Rs. 3485 / 159 = Rs 21.92 per Litre approx
Simplified Calculation Chart for Petrol
& Diesel Prices in New Delhi - (1st June 2016)
| Petrol Price * | Diesel Price Calculation * | |
| International Price of Crude Oil with Ocean Freight (as on 1st June 2016) | 52$ or Rs 3485 per Barrel | 52$ or Rs 3485 per Barrel |
| 1 Barrel of Crude Oil | 159 Litre | 159 Litre |
| Crude Oil - Cost per Litre | Rs 21.92 / Litre | Rs 21.92 / Litre |
| Basic OMC Cost Calculation | ||
| Entry Tax (if appl.), Refinery Processing, Margin & Landing Cost from Refinery to OMC - (Refinery Costs) | Rs 3.39 per Litre | Rs 2.8 per Litre |
| OMC Margin, Transportation, Freight, Landing to Dealers | Rs 2.56 per Litre | Rs 2.44per Litre |
| Basic Cost of Fuel after Refining Cost | Rs 27.87 / Litre | Rs 27.16 / Litre |
| Additional: Excise Duty as on 1st June 2016 | Rs 21.48 / Litre on Petrol | Rs 17.33 / Lit on Diesel |
| Pricing Charged to Dealers before VAT | Rs 49.35 / Litre | Rs 44.49 / Litre |
| Calculating Dealer Retail Price - Base Location Delhi | ||
| Commission to Petrol Pump Dealers | Rs 2.30 per Litre | Rs 1.45 per Litre |
| Fuel Cost Before VAT (rounded off for approximation) | Rs 51.65 per Litre | Rs 45.94 per Litre |
| Additional:VAT (Varies from State to State - 27% on Petrol & 18% on Diesel + 25p as Pollution Cess with Surcharge) | Rs 13.95 / Lit on Petrol | Rs 7.99 on Diesel |
| Final Retail Price as on 1st June, 2016 -(calculation) | Rs 65.6 / Litre | Rs 53.93 / Litre |
* - Prices as on 1st June 2016
Had it been ideal world - we would have ended up with Fuel Cost of less than Rs 30 per Litre for Petrol and Diesel.Irony is - we are paying more Taxes than the Cost of Obtaining Petrol Fuel
Taxation Scenario on Petrol and Diesel Fuel
Do you always Wondered that Despite of Falling International Crude Oil Costs, Petrol and Diesel Prices in India are on higher Side
Apart from Crude Oil Rates - There are 2 Important Factors which determine the Fuel Cost - VAT and Excise Duty - which has increased significantly in last 15 months.
| Tax in November 2014 | Tax in June 2016 | |
| Excise Duty on Petrol | Rs 9.20 per Litre | Rs 21.48 per Litre |
| Excise Duty on Diesel | Rs 3.46 per Litre | Rs 17.33 per Litre |
| VAT on Basic Price on Petrol | 20% on Basic Price | 27% on Basic Price |
| VAT on Basic Price on Diesel | 12.5% on Basic Price | 18% on Diesel + 25p Cess |
» Excise Duty - Excise Duty was Rs 9.20/Lit on Petrol and Rs 3.46/Lit on Diesel on 1st November 2014
Present Excise Duty on Petroleum Products is Rs. 21.48 /Litre for Petrol and Rs 17.33 /Litre on Diesel (as on 1st June 2016 -There has been Multiple Excise Hikes in 2015 and seems like happening in 2016 too) - goes to Central Government. - which has increased gradually and are now almost more than 2x Times for Petrol and 4.5x Times for Diesel
» VAT on Gross Price (on Price + Excise Duty) * (@ 27% on Petrol, 18% on Diesel + 25p Cess) - Rs. 12.69 on Petrol, Rs 7.62 for Diesel - goes to State Government. VAT also increased in Delhi by Aam Aadmi Party/. Earlier it was 20% on Petrol and 12.5% on Diesel
Disclaimer :- Approximate Closest Figures Used, Fuel Price Calculation done in Delhi
Fuel Prices Component Break Up (in Delhi) - based on Prices in June 2016
« Raw Crude Oil Cost - 33% in Petrol, 40% in Diesel
« Refining Cost, Transportation, Freight, Dealer Commission - 15% on Petrol, 20% in Diesel
« Taxes - Excise, VAT, Cess etc - 52% in Petrol, 40% in Diesel
| Petrol Price^ | Diesel Price^ | |
| New Delhi | Rs 65.6 | Rs 53.93 |
| Mumbai | Rs 70.18 | Rs 59.21 |
| Chennai | Rs 65.04 | Rs 55.44 |
| Kolkatta | Rs 68.46 | Rs 56.13 |
| Noida | Rs 68.55 | Rs 55.53 |
| Gurgaon | Rs 65.57 | Rs 55.42 |
^ - Prices as on 1st June 2016
Wondering for Fuel Price Difference. One of the Major Reasons for Discrepency in Fuel Prices across States is
» VAT Rate Difference - VAT rate varies from state to state and to give instance on Petrol in Rajasthan is 30%, MP is 31 % + Rs 1 additional cess, Haryana is 25%, UP is Rs 16.74 per Litre, Delhi is now 27%. VAT on diesel in Rajasthan is 22%, MP is 27%, Haryana is 16.4%, UP is Rs 9.41/Litre per Litre, Delhi is now 18% + 25 paise cess
» Additional Cess, Entry Tax or Special Cess etc
All this leads to different Prices of Petroleum Products in Various States and Union Territories in India
Resources: Carhelpline
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