Petrol diesel prices likely to remain unchanged

Prices for gasoline and diesel are probably going to stay the same for the next fifteen days.

Over the past two weeks,

the average price of gasoline and high-speed diesel (HSD) has gone up a little on the global market. While the rupee saw a modest increase in value, the import premium for gasoline and diesel stayed the same.

Consequently, despite a minor decline in global prices in the final two days of the month, the costs of gasoline, diesel, and kerosene have gone up by almost Rs 3 per liter, according to the most recent estimations through November 28.

The price difference is so tiny, according to an Ogra official, that it can be changed within the Inland Freight Equalization Margin (IFEM), a system designed to apply consistent prices throughout the nation. ” In any event, he stated, the price increase is anticipated to be less than Rs 3 per litre.
At the moment, high-speed diesel costs Rs 255.14 per litre, while petrol costs Rs 248.38 per litre ex-depot. On November 15, the government maintained the pricing of all petroleum products for the current two weeks at the same level. However, on October 31, the prices of gasoline and HSD went up by Rs 3.85 and Rs 1.35 per litre, respectively.
The middle and lower middle classes’ budgets are directly impacted by the consumption of gasoline, which is primarily utilized in private transportation, small cars, rickshaws, and two-wheelers.

However,

a significant portion of the transportation industry is powered by high-speed diesel. Since it is primarily utilized in heavy-duty vehicles, railroads, and agricultural engines such as trucks, buses, tractors, tube wheels, and threshers, as well as particularly in vegetables and other products, its price increase is thought to be the root cause of inflation. raises the cost of products.
Even though there is no GST on any petroleum products, the government currently charges about Rs 76 per liter for both gasoline and HSD. The people are impacted by the Petrol Development Levy (PDL) that the government is imposing on gasoline and HSD, which is Rs 60 per liter.

Additionally, the government collects customs duty on gasoline and HSD at a rate of roughly Rs 16 per liter.

In addition to the approximately Rs 17 per litre distribution and selling margin that goes to oil corporations and their dealers, the government also collects a customs tax of around Rs 16 per litre on petrol and HSD, regardless of whether they are produced locally or imported. been

However, the government is charging Rs 50 a liter for “95 Ron” gasoline, which is used by the wealthy in high-end foreign cars, and light diesel and high-octane mixing components.

Petrol diesel prices likely to remain unchanged