Hyderabad: After the conclusion of the Assembly elections in five states, the prices of petrol and diesel have been continuously rising. In May, the price of petrol has increased by Rs 3.59 per litre and the price of diesel by Rs 4.13 per litre. Petrol prices have also crossed Rs 100 per litre in many cities of the country.
The government blames crude oil prices in the international market. But neither the central government nor the state governments are ready to reduce the tax. However, whenever there is an election in the country, the petrol prices stop rising.
Let's take a look at the price of petrol in different states of the country.
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How are the prices fixed:
The price of petrol and diesel is decided based on the price of crude oil in the international market. In this, foreign exchange rates are also considered a factor. The price is fixed every day.
Central excise and state taxes account for 60 per cent of the prices of petrol, while in diesel it is 54 per cent. Central excise duty on petrol is Rs 32.90 per litre, while on diesel it is Rs 31.80 per litre.
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The responsibility lies with both the State and the Centre. In the last seven years, income from petroleum products has increased up to 556 per cent. The Minister of State for Finance, Anurag Singh Thakur, has given this information in the Parliament. The Rangarajan Committee has said that 56 per cent duty is levied on petrol and 36 per cent on diesel.
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