Breakup of Petrol and Diesel prices after Indian government raise excise duty by ₹3 per litre
Mar 15, 2020, 00:01 IST
- Excise duty on petrol and diesel was on Saturday hiked by ₹3 per litre
- Special excise duty on petrol was hiked by ₹2 to ₹8 per litre incase of petrol and to Rs 4 incase of diesel, an official notification said.
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Excise duty on petrol and diesel was on Saturday hiked by ₹3 per litre as the government looked to mop up gains arising from fall in international oil prices.Special excise duty on petrol was hiked by Rs 2 to Rs 8 per litre incase of petrol and to Rs 4 incase of diesel, an official notification said.| Elements | Petrol(₹/Litre) | Diesel(₹/Litre) |
| Base Price | 28.18 | 31.74 |
| Freight Etc. | 0.32 | 0.29 |
| Price charged to dealers | 28.5 | 32.03 |
| Additional Excise duty | 22.98 | 18.83 |
| Additional Dealer commission | 3.54 | 2.49 |
| Additional VAT (including VAT on dealer commission) | 14.85 | 9.23 |
| Retail Selling Price | 69.87 | 62.58 |
Additionally, road cess on petrol was raised by Rs 1 per litre each on petrol and diesel to ₹10.
The increase in excise duty would in normal course result in a hike in petrol and diesel prices but most of it would be adjusted against the fall in rates that would have necessitated because of slump in international oil prices. ANZ KJ