Mr raviunder question is how come diesle is sold FOB Guklf at Rs 40.5 Rs? It is too costly.This is simply looot.Obviously politcians are involved in this racket.What should be price of diesel ex fulf
Subsidies Diesel Rs.10.71/L, Kerosene 25.66/L & LPG Rs.260.43/Cylinder
If you go by news reports or pick up stories from here and there and don't INVESTIGATE actual data you are making a fool of yourself.
In above you can see firstly Customs & Excise on Diesel is Rs. 3.11 only for Diesel retail price of Rs.40.91 (rows 5 & 17) and this too is largely returned to states and States share of Central Taxes.
Figures for Kerosene are Customs & Excise on Diesel is Zero only for Kerosene retail price of Rs.14.83 (rows 5 & 15).
Figures for LPG are Customs & Excise on Diesel is Zero only for LPG retail price of Rs.399 (rows 5 & 15).
Subsidies are Diesel Rs.10.71/L, Kerosene 25.66/L & LPG Rs.260.43/Cylinder (Rows 15, 13 and 14 respectively.
Thus most of the Tax collection on account of Diesel, Kerosene and LPG is due to state taxes.
For your information, Petrol sales accounts for just 12% of all petroleum products.
Going by breakup for Diesel that cost almost same as Petrol in Gulf countries without subsidy, would cost Rs.51.08.
Is money looted thorugh Arba Gulf companies?
--- On Thu, 11/24/11, Mukund Apte <firstname.lastname@example.org> wrote:
I am sure you are keeping track of Government announcements about effect of Petrol/diesel price rise during the current year. As per News report (Times of India dated 24 Nov 2011), Government has collected from petrol/diesel a tax of over Rs 1 lakh crores more than what was the collection last year. What does it mean? Does Government tax our (public Sector) oil companies so much that they always suffer loss at the rate suggested or approved by Government? Since companies declare yearly losses, Government must not be getting any dividend from them isn't it? Can we decipher the puzzle? Does it mean Government collects lot more (as taxes), the oil companies declare heavy losses, the customers cry foul for increased price of petrol/diesel while the price of these commodities appear be more than (any other country) all over the world. In addition our Finance Minister (as well as PM) tells us that if international price of oil increases, we shall have to raise price of these commodities still more.
With regards to all,
On Thu, Nov 24, 2011 at 2:08 AM, Raja <email@example.com> wrote:
The Diesel Price build up given on ministry site is mind boggling.See the high rate the diesel starts from Gulf.Why this price is given on site and not post crude refining price.Where RIUL refineries sell? What is their refining marghins?
Like Diesel the LPG and kerosene prices that start from gulf are mind boggling too.Or are they in order
Can out some knowledegeable member do research and comment?
What is cost of diesl produced by IOC from ONGC domestic crude?
Effective 16th Nov'11
1* FOB Price at Arab Gulf of Gasoil (Diesel)BS III equivalent $/bbl 130.22 ??
2* Add: Ocean Freight from AG to Indian Ports $/bbl 1.55
3 C&F (Cost & Freight) Price $/bbl 131.77 OR Rs./Litre 40.39 ?? (Is Diesel so costly to produce in Gulf?)
4* Import Charges (Insurance/Ocean Loss/ LC Charge/Port Dues) Rs./Litre 0.38
5* Customs Duty @2.58% (2.50% + 3% Education cess) Rs./Litre 1.05
6* Import Parity Price (at 29.5º C) (Sum of 3 to 5) Rs./Litre 41.82
7* Export Parity Price (at 29.5º C) Rs./Litre 39.91
8* Trade Parity Price (80% of (6)+20% of (7)) Rs./Litre 41.44
9* Refinery Transfer Price (RTP) for BS-III Diesel (Price Paid by the Oil Marketing Companies to Refineries) Rs./Litre 41.44
10 Add: Premium recovered for BS-IV Grade over BS-III Rs./Litre 0.04
11* Add : Inland Freight and Delivery Charges Rs./Litre 0.73
12* Add : Marketing Cost of OMCs Rs./Litre 0.65
13* Add : Marketing Margin of OMCs Rs./Litre 0.79
14 Total Desired Price (Sum of 9 to 13)-Before Excise Duty, VAT and Dealer Commission Rs./Litre 43.65
15* Less: Under-recovery to Oil Marketing Companies Rs./Litre 10.17
16 Price Charged to Dealers (Depot Price) (14-15)- Excluding Excise Duty & VAT Rs./Litre 33.47
17* Add : Specific Excise Duty @ Rs.2.06/Litre (Rs.2.00/Litre+ 3% Education cess) Rs./Litre 2.06
18* Add : Dealer Commission Rs./Litre 0.91
19* Add : VAT (including VAT on Dealer Commission) applicable for Delhi @ 12.50% and Air Ambience Charges @ Rs.250/KL less rebate of Rs.375/KL. Rs./Litre 4.46
20 Retail Selling Price at Delhi (Sum of 16 to 19) Rs./Litre 40.91
*The explanatory notes are given in the attachment
**Fortnightly RTP is weighted average of all Indian Pricing Ports.