WHAT IS THE REASON FOR THE BOOM OF PETROL PRICE IN INDIA:

                 The price of the petrol was first decided by the price of the crude oil globally in the market. From that the tax will be placed one by one (central govt of india tax, VAT by states). it also based on the transportaion charge and the delaers profit on the petrol, Diesel etc..

                     

Today petrol price (16/09/2018).

1.New Delhi ₹ 81.91   

2.Kolkata ₹ 83.76 

3.Mumbai ₹ 89.29   

4.Chennai ₹ 85.15 

5.Gurgaon ₹ 82.51    

6.Noida ₹ 81.60 

7.Bangalore ₹ 84.59    

 8.Bhubaneswar ₹ 80.63 

9.Chandigarh ₹ 78.86   

10.Hyderabad ₹ 86.85  

11.Jaipur ₹ 82.40  

12.Lucknow ₹ 81.51  

13.Patna ₹ 88.28

Goverments revenue:

                  India is one of the country to have a expensive price on petrol when coumpared to our neighbouring country like Bangladesh, Pakisthan. The Goernment of india rises more than 2 LAKH CRORES from the Tax levied on the fuel all over the India. The price we pay on the petrol will be included with the 45% of the Tax included State and Central Tax.

Price for 1litre Petrol (Chennai-- Rs.85.15):

  • PRICE OF CRUDE OIL 1BARREL (159litres)        : Rs.6741 +
  • PRICE OF 1LITRE CRUDE OIL                             :  Rs. 42.39 +
  • DUTY BY CENTRAL GOVT INDIA                        :  Rs. 19.48 +
  • VAT BY GOVERNMENT OF TAMILNADU (27%)  :  Rs.23.28. +
                                                                                             =======
            TOTAL PRICE                                                       :  RS.85.15

                                                                                                              ========

So, this is how the money we pay is distributed to Producers, Retailers, central government of india, State government. 

Formula for the petrol calculation Tamilnadu( Rs85.15):

Retail price of petrol: Crude oil cost + OMC cost + Dealers price + before Taminadu VAT.

Around the globe price of petrol (21 may 2018) :

     The list provided bellow are the data as on May 21st,2018.

   COUNTRY       PRICE(Rs)
Venezuela 
0.58
Sudan 
23.24
Kuwait
23.64
Iran 
24.49
Algeria
24.59
Egypt
25.07
Ecuador 
26.60
Nigeria 
28.53
Syria 
29.73
Bahrain 
36.05
Kazakhstan 
36.45
Uzbekistan 
36.52
Saudi Arabia 
37.00
Qatar
37.37
Malaysia
37.72
Oman
39.23
Iraq 
42.97
UAE
43.90
Burma 
44.05
Indonesia
44.66
Ethiopia 
46.40
Afghanistan 
46.54
Belarus
46.75
Russia
48.98
Tunisia
49.80
Pakistan
51.64
Colombia
54.08
Bhutan 
57.02
USA
57.56
Lebanon
62.51
Namibia 
62.85
Vietnam
63.27
Sri Lanka
63.77
Georgia
64.25
Fiji
67.98
Taiwan
68.50
Nepal
68.74
Mexico
69.10
Ghana
69.46
Paraguay 
70.13
Bangladesh 
71.69
Philippines
72.29
Kenya
73.68
Cambodia
73.98
Australia
74.29
Mauritania 
76.75
Ukraine
76.79
Argentina
77.60
South Africa
79.68
Costa Rica
79.72
Thailand
79.79
Brazil
80.10
India
80.22
China
80.90
Morocco
81.19
Canada
81.68
Senegal 
83.84
Madagascar 
84.00
Bahamas 
85.73
Cuba 
86.15
Jamaica
86.86
Bulgaria
87.26
Chile
88.63
Japan
89.31
Turkey
91.95
Poland
94.36
Zimbabwe 
94.57
Yemen 
95.01
Romania
98.47
Hungary
99.27
South Korea
100.56
Jordan
100.68
Czech Rep
100.75
Serbia
101.57
Austria
101.59
Mauritius
102.85
Cyprus
103.76
Spain
106.16
Slovakia
109.77
Uruguay
110.06
New Zealand
110.90
Switzerland
110.98
Singapore
111.62
Ireland
114.58
Germany
115.46
UK
116.34
Belgium
118.83
Finland
124.44
France
125.25
Sweden
126.47
Portugal
126.53
Israel
127.43
Italy
128.77
Greece
130.70
Monaco 
131.74
Denmark
131.99
Netherlands
133.50
Norway
139.85
Hong Kong
144.23
Iceland
144.52

The list of 100 countries price list are varied from Venenzula to Iceland. Venenzula has the lowest price till date because of their production and taxation levied on the crude oil. We might be thinking that India(without GST) is the country having peak fuel price. But you can see from the list of 100 countries Iceland have peak of fuel price.

Reason for non-acceptance of GST on Petrol in India:

      What will happen to the price of the petrol if the Indian government makes GST for the Petrol and Diesel. 

If Petrol price is slabed under the highest GST rate 28% the price of petrol that will be sold in State(TAMILNADU) will be Rs.45.  The State government revenue on the petrol will fall suddenly from 27% to 14%. 

Of course , IT'S A DREAM OF WHOLE INDIA!!!!

Actually the scenario happening is that Central goverment of India is ready make the petrol under the shades of GST but most of the State government are not ready to accept it because they will be losing the great income because of this GST.

All indian will be thinking that Central government is not ready to apply GST but now you (readers) can understand that State govt is not ready to pass the GST bill in assembly.

THIS IS WHAT THE REASON FOR THE STORY BEHIND THE NON-ACCEPTANCE OF GST ON PETROL.



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