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If the government did not increase the tax, then today the price of petrol would have been Rs 66/litre; Get a liter of diesel for Rs 55!

In the last few years, the Center has taxed these at higher rates.

Petrol and Diesel Prices: The price of petrol has reached above Rs 100 in many cities of the country. The rising prices of petrol and diesel in the country are affecting the income of the common man. At the same time, let us tell you that a large part of these high prices of petrol and diesel is also the tax levied on them by the government. In the last few years, the Center has taxed these at higher rates.

Companies used to get 66% of the price in 2014

For example, in June 2014, oil marketing companies sold petrol to dealers at a price of Rs 49 per litre. Retail prices touched Rs 74 per liter with dealers’ margin and central and state taxes. So, the oil marketing companies got only 66 per cent of the final price. Whereas, the remaining 34 percent went to the dealers, central and state governments.

Now the share of oil marketing companies has reached 42 percent. Whereas dealer commission and tax together have gone up to 58 percent. The maximum increase in this has been in the central tax, which has increased from 14 percent of the retail price to 32 percent now. The tax share of the state government has increased from 17 per cent to 23 per cent in the same period. If taxes had remained at 2014 level, the cost of one liter of petrol would have been Rs 66 today. It does not go beyond Rs 100.

The share of tax in diesel prices rose sharply

At the same time, the share of tax in diesel prices has increased more rapidly. Since 2014, central excise has increased from 8 per cent to 35 per cent of the retail price. Whereas the state tax or VAT has increased from 12 percent in 2014 to 15 percent. If the tax had remained at the level of 2014, then the price of one liter of diesel would have been Rs 55 today. Its prices do not reach Rs 91.

Let us tell you that the price of petrol in Delhi is Rs 105.14 while the price of diesel is Rs 93.87 per liter. The price of petrol in Mumbai is Rs 111.09 and the price of diesel is Rs 101.78 per liter. The price of petrol in Kolkata is Rs 105.76 while the price of diesel is Rs 96.98 per litre. At the same time, in Chennai, petrol is Rs 102.40 a liter and diesel is Rs 98.26 a liter. Let us tell you that in Madhya Pradesh, Rajasthan, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Odisha, Jammu and Kashmir and Ladakh, the price of petrol has crossed Rs 100. Petrol price is highest in Mumbai.

read this also: Income Tax Return: Keep these documents with you while filing ITR, no problem will come

read this also: Report claims – there is not a single country in the world where wife earns more than her husband, know how is the situation in India

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Shehnaz Ali
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.
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