Petrol, Diesel prices go up: People worried

Petrol, Diesel prices go up: People worried

Hyderabad: The prices of Petrol and Diesel have abnormally been enhanced at National and State Levels. If the governments withdraw excise duty and VAT, public can get petrol at Rs. 45 per litre and diesel at Rs. 38 a litre.

It is reported that petrol is at Rs. 35.12 a litre at international level. It is sold to dealers at Rs. 36. 19 per litre. Central Govt. levies Rs. 19.48 as Excise Duty. If the profit of the dealers which accounts for Rs. 3 per litre is added, the cost price works out to Rs. 59.28 per litre.

It may also be mentioned that various State Governments impose VAT on petrol and diesel. In Telangana State, VAT is levied at the rate of 36% on petrol and 32% on diesel. In this way, the price of petrol in Telangana has increased to Rs. 81.43 and diesel is being sold at Rs. 74 a litre.

With the introduction of the system of enhancement of rates on daily basis, these prices are likely to increase further.

It may be noted that oil companies did not enhance petrol and diesel prices for 19 days keeping in view Karnataka elections. They enhanced these rates immediately the next day after the polling. In this manner, poor and middle class people are made to suffer.

It may also be mentioned that petrol and diesel have been kept out of the purview of GST. When the prices at international level go up, in India, these prices are hiked but when the prices at the international market come down, its benefit is not extended to people.

In the name of Excise Duty and VAT, Governments collect huge revenue. In Greater Hyderabad area, there are more than 2000 petrol bunks and each petrol bunk sells 3-4 thousand litres of petrol every day. In this manner, Rs. 80 lakh is collected daily through these taxes.

—Siasat News