petrol price hike- a eye opener for indians
By gaisri
@gaisri (154)
India
October 28, 2008 12:44am CST
Guys..Here is an interesting calculation / Statistics on petrol price. I request your views on this (especially indian Mylotters).I have received this statistics from my friend and taught it will be worthwhile to share this with everyone..This is regarding petrol price and how the price which we pay is arrived by the government.The breakup is as follows, considering the crude oil price at $130 per barrel
Calculation in INR
Basic price:Rs 21.93
Excise duty:Rs 14.35
VAT :Rs 05.50
Crudeoil custom duty: Rs 1.10
Petrol custom duty : Rs 1.54
Transportation charge:Rs 6.00
Total price: Rs 51.90.
For a Rs 22 liter petrol, we pay Rs 28 as extra.
If the Central govt wishes, it can still keep the end customer price at a lower rate, instead the public are fooled..what do you think guys..
Don't you think you should pass this to create more awareness among the general public..?
3 responses
@nitinshukla (278)
• United Kingdom
17 Jul 10
I agree to whatever you say.I feel that the Government takes a convoluted way to arrive at the final petrol prices.The total taxes amount to about 45 percent of the final cost of petrol.Instead of lowering these taxes,the Government most often raises them and then hides itself behind the namesake subsidy it offers on these products.Whenever there is a deregulation on petrol prices, the opposition parties start crying for a roll back of the same.What surprises me however is, nobody ever looks concerned about the ridiculous taxes(close to 50%)which the Government imposes on these products.
@rkrish (3003)
• India
30 Oct 08
its right and you know well, we the salary people (middle class) are well suffered from taxations say more than 6 months earnings are going for government and we pay them first than us which makes us poor to live a good life by spending as well..we are earn to pay tax rather than paying for ourselves
