Petrol price tax calculation
2014 and then 2015 has seen International Crude Prices hitting all time Low in Jan 2015. Know Computation of Petrol and Diesel Prices in Chennai IndiaLast Updated on 1st September 2015
Fuel Price Calculation in 2015
With Fuel Prices now getting changed Frequently, know how is fuel prices computed in IndiaCalculating Crude Oil Cost - Petrol & Diesel - 2015
If you reading Internationally, the price of crude Oil hovers at 48 Dollar - which is roughly equivalent to Rs. 3000 (keeping the exchange rate around Rs. 65).On Importing Oil - Barrel Cost + Ocean Freight at 2 Dollar needs to be paid - effectively implying - 50$ per barrel as import cost.
» 1 barrel of crude Oil is Equivalent to around 159 Litres of Crude Oil
» Raw Crude Oil in Indian Currency: Rs. 3185 / 159 = Rs 20 per Litre approx
Simplified Calculation Chart for Petrol & Diesel Prices in New Delhi - September 2015
| Petrol | Diesel | |
| International Price of Crude Oil with Ocean Freight (as in Jan 2015) | 49$ or Rs 3185 per Barrel | 49$ or Rs 3185 per Barrel |
| 1 Barrel of Crude Oil | 159 Litre | 159 Litre |
| Crude Oil - Cost per Litre | Rs 20 per Litre | Rs 20 per Litre |
| Basic OMC Cost Calculation | ||
| Refinery Processing & Transportation Cost | Rs 6 per Litre | Rs 4.6 per Litre |
| OMC Margin, Transportation, Freight, Landing to Dealers | Rs 3.9 per Litre | Rs 2.1 per Litre |
| Basic Cost OMC - Pricing Charged to Dealers including Processing, Transportation, Margins etc | Rs 29.9 per Lit | Rs 26.7 per Lit |
| Calculating Dealer Retail Price - Base Location Delhi | ||
| Excise Duty as on 1st September 2015 | Rs 17.46 on Petrol | Rs 10.26 on Diesel |
| Commission to Petrol Pump | Rs 2.27 per Lit | Rs 1.42 per Litr |
| Fuel Cost Before VAT (rounded off for approximation) | Rs 49 per Lit | Rs 38 per Lit |
| VAT (Varies from State to State - 25% on Petrol & 16.6% on Diesel with Surcharge) | Rs 12.25 on Petrol | Rs 6.6 on Diesel |
| Final Retail Price as on 1st September 2015 - approx calculation | Rs 61.25 per Lit | Rs 44.6 per Litre |
Had it been ideal world - we would have ended up with Fuel Cost of Rs 30 to 32 per Litre for Petrol and Rs 28 / Litre for Diesel Fuel
Now comes Taxation Scenario on Petrol and Diesel Fuel
» Excise Duty (including Education Cess - as on September 2015) - Rs. 17.46 for Petrol and Rs 10.26 per Litre on Diesel (There has been Multiple Excise Hikes in 2015) - goes to Central GovernmentFor Info - Excise Duty was Rs 9.20 on Petrol and Rs 3.46 on Diesel on 1st November 2014 - which has increased gradually and are now almost 90% higher for Petrol and 200% higher for Diesel
» VAT on Gross Price (on Price + Excise Duty) * (@ 25% on Petrol, 16.6% on Diesel) - Rs. 10 on Petrol, Rs 5 for Diesel - goes to State Government. VAT also increased in Delhi by Aam Aadmi Party
Disclaimer :- Approximate Closest Figures Used, Fuel Price Calculation done in Delhi
Invest with 200$ and get a returns of 5,000$ within seven business working days.
ReplyDeleteWhy wasting your precious time online looking for a loan? When there is an opportunity for you to invest with 200$ and get a returns of 5,000$ within seven business working days. Contact us now for more information if interested on how you can earn big with just little amount. This is all about investing into Crude Oil and Gas Business.
Email: investmoneyoilgas@gmail.com