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Petrol-Diesel Prices Increased 63 Times This Year, Government Earned Rs 3.34 Lakh Cr

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New Delhi: The price of petrol and diesel have been continuously increasing across the country. In many big cities of the country including Delhi and Mumbai, the price of petrol has crossed Rs. 100 per litre. On Monday, data presented on the price of petrol and diesel by the government in Parliament was staggering. Let us know how many times the price of petrol and diesel has increased till now this year. 

Petrol prices increased for 63 times

According to the written reply given by the Ministry of Petroleum in the Lok Sabha today, so far this year the price of petrol has been increased 63 times while its price has been reduced only 4 times. The government presented these figures for the time period of January 1 to July 9. As we know that now oil companies fix the price of petrol and diesel daily. Looking at the data, the petrol prices did not change for a total of 123 days. 

Diesel price hiked for 61 days

Similarly, there were 61 days on which the price of diesel was increased, whereas there were only 4 days when the price was reduced.  There were 125 days when there was no change in the price of diesel. In the last 3 years, the price of petrol had increased 148 times during 2018-19, 89 times in 2019-20 and 76 times in 2020-21. Similarly, diesel prices were increased 140 times in 2018-19, 79 times in 2019-20 and 73 times during 2020-21. 

Excessive earnings from excise duty

Another information came to light related to the income of the Central Government from the excise duty levied on petroleum products, especially petrol and diesel. The government’s earnings have tremendously increased in the last 3 years but its profit margin has elevated even more in the last year (2020-21). In 2018-19, the government earned Rs 2,35,301 crore from excise duty, in which about Rs 2,13,000 crore came only from taxes on petrol and diesel. At the same time period, an income of Rs 1,97,845 crore was made in 2019-20. There was a tremendous increase in the income of the government in 2020-21 and it has increased to Rs 3,44,746 crore. In this, about Rs 3,34,000 crore came from excise duty on petrol and diesel. 

VAT charged at 30% in Delhi

At present, the excise tax is collected by the central government on unbranded petrol at Rs 32.80 while on branded petrol Rs 34.10. The same excise tax of Rs 31.80 and Rs 34.20 is levied by the central government on both types of diesel. However, a large part of the excise tax collected by the Central Government is given back to the states. Not only this, a large part of the price of petrol and diesel is also VAT charged by the states. For example, in Delhi, the state government charges 30% VAT on one litre of petrol. 

 

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