Fuel prices may come down by Diwali: Oil Minister

Petroleum minister Dharmendra Pradhan stressed tax rationalisation

Petroleum minister Dharmendra Pradhan stressed tax rationalisation

If we take out the excise duty per litre charged by the centre (Rs 21.48), 27 percent Value-Added Tax charged by the state government (calculated to be Rs 14.96), dealers commission (Rs 3.24), the actual cost of petrol comes to be 30.85 per litre.

According to a statement released, the price of diesel, both 0.05% sulphur and 0.005% sulphur, is set to increase by 32.8c/litre.

In April 2017, petroleum minister Dharmendra Pradhan had through a tweet said the ministry was exploring ways for home delivery of petroleum products such as diesel and petrol.

If Finance Minister Arun Jaitlely-headed GST Council takes Pradhan's suggestion, petrol prices under 12 per cent GST bracket would be as cheap as Rs 38.1 in Delhi as against the current Rs 70.38.

For example (as on September 19) the customer has to pay Rs 70.52 on a litre of petrol in the national capital.

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Comparing the prices of petrol and diesel before 2014 and after, Karnataka Pradesh Congress Committee president G. Parameshwara said the Modi government has hiked excise duty 14 times in the last three years.

The increase in excise duty has helped the Centre realise over Rs 1 lakh crore. In spite of the centre demanding the fuel prices to be brought under the purview of GST, the state government has refused to do so since it is a lucrative source.

The minister also emphasised on the fact that oil companies should be given pricing freedom. This has been used in the development of highways, schools and hospitals, stated Pradhan.

On being asked about margin of the oil companies, he said they are being run by the government. "Fuel prices may come down by Diwali festival", said the minister who was on a brief visit in Amritsar.

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