What will be the price of Petrol and Diesel in India at the end of 2013?

 

We know very well without fuel no article will be moved from one place to other anywhere in the world.Oil is the main factor in the body which we intake with food and outside also its play the main role.Where as the Inflation rate is going high in India for last five years and the cost of production is increased from Industrial point of view.Recently the IIP data is also negative. The goods which we bought in last year cannot be bought in same price this year.

As the cost of goods are increased several times the basic and main factor for all is fuel price.Petrol price in India increased 23% in 1 year.As a cost of Petrol price increased at a stretch of Rs7.50 per litre and later reduced Rs5.25 per litre. A hike  of Rs7.50 is the highest hike in a day in Indian History. Government has given right to hike the petrol price by June 2010 to Oil Companies directly without the interruption of Central Government.Political drama is the major role in India especially in Petrol & Diesel price hike which affects all category of people directly and indirectly.

Petrol and Diesel prices hike in India is not tolerable

As per 2011 below given countries are top 10 oil producing countries.

1.Russia                                                          6.Mexico

2.Saudi Arabia                                                7.Canada

3.USA                                                              8.UAE

4.Iran                                                              9.Iraq

5.China                                                          10.Kuwait

Current Petrol prices in other major countries are given below in INR

USA – 43.70               China – 47.50                         Pakistan – 43.29

Russia – 41.96           Malaysia – 26.78                    Canada – 45.08

                                                          India – 72.50

People should know the Petrol price build up in India

How Government simply splits Petrol price

                                         

If cost of petrol price is Rs72.50 which is fixed by Indian Government which is differed from State to State below are break up prices 

Basic Price: Rs 33.35
Excise duty: Rs 16.55
Education Tax: Rs 0.48
Dealer commission: Rs 1.50
VAT: Rs 6.5
Crude Oil Custom duty: Rs 2.1
Petrol Custom: Rs 3.54
Transportation Charge: Rs 8.48
Total price: Rs 72.50


Based on the above calculation the price of crude is only around 36-40% of the total price that we pay at the pumps.

Below are the petrol price hiked dates and prices in India from 2002.

MonthDelhiKolkataMumbaiChennai
July 25, 201268.4876.1375.1472.19
July 24, 201268.4873.6174.2373.16
June 29, 201267.7872.7473.3572.27
June 18, 201270.2475.8176.4575.4
June 03, 201271.1675.8176.4575.4
May 24, 201273.1877.8878.5777.53
December 01, 201165.6470.0370.6669.55
November 16, 201166.4270.8471.4770.38
November 04, 201168.6473.1573.8172.73
September 16, 201166.8471.2871.9170.82
July 01, 201163.768.0168.6267.5
May 15, 201163.3767.7168.3367.22
March 02, 201158.3762.563.0861.93
January 16, 201158.3762.563.0863.36
December 16, 201055.8759.960.4660.65
November 09, 201052.9156.8157.3557.44
November 02, 201052.5956.4757.0157.09
October 17, 201052.5956.4457.0157.09
September 21, 201051.8355.6956.2556.31
September 08, 201051.5655.455.9756.02
June 26, 201051.4355.3255.8855.92
April 01, 201047.9351.6752.252.13
February 27, 201047.4351.1551.6851.59
July 02, 200944.7248.2548.7648.58
January 29, 200940.6244.0544.5544.24
December 06, 200845.6247.1649.849.66
November 06, 200850.6252.255.0455.07
July 16, 200850.6252.255.0455.07
June 06, 200850.5652.255.8855.07
May 24, 200845.5648.9850.5449.64
February 15, 200845.5248.9550.5149.61
June 06, 200743.5246.8648.3847.44
May 16, 200742.8546.8648.3847.44
March 01, 200742.8546.948.4147.48
February 16, 200742.8546.9248.4547.51
November 30, 200644.8548.9950.5849.67
June 20, 200646.8551.0752.7151.83
June 05, 200647.5151.0753.551.83
September 06, 200543.4946.949.1647.49
June 20, 200540.4943.7945.9344.26
April 05, 200537.9940.8943.2341.25
April 01, 200537.9940.8943.2341.25
November 15, 200437.8440.8943.2341.25
November 04, 20043942.144.4942.51
July 31, 200436.8139.8342.1540.15
June 15, 200435.7138.6940.9638.96
December 31, 200333.736.6138.8336.79
December 12, 200332.735.5737.7435.71
October 16, 200331.734.536.6634.36
August 31, 200332.435.2637.4235.39
June 01, 200330.331.8135.1433.11
May 16, 200330.431.9135.2533.22
April 26, 200331.493336.4334.4
April 16, 200332.493437.2535.48
April 01, 200333.493535.2536.39
March 16, 200333.493538.5936.39
March 01, 200323.133.6137.0834.89
February 01, 200330.7132.2135.5833.99
January 16, 200330.3331.8435.1832.99
January 03, 200329.9331.4434.7332.55
December 01, 200228.9130.4233.6331.45
November 16, 200229.5731.0134.2332.05
November 01, 200230.2631.734.9832.8
October 17, 200230.2431.6834.9532.07
October 01, 200229.9131.3534.4232.42
September 16, 200229.6631.134.1532.16
September 01, 200229.230.6433.6531.66
August 16, 20022929.4433.4431.44
August 01, 200229.1829.6333.6431.64
July 01, 200229.1829.6333.6431.64
June 16, 200229.1829.6333.7231.3
June 04, 200229.9429.3933.4531.05

In above given chart petrol price is hiked 12times as a higher side in India at 2003, but in terms of amount with less number of times price hike is more in 2012.

Current crude oil price is $92.50 per barrel.Saudi Arabia exports 1.59billion in last month and local consumption is within the country was 535.6million barrels or 25% in total production.Saudi Arabia is trying to achieve 10million barrels of production per day. Saudis major export to China 26.1%. In near by terms after a long study oil price would not go beyond $100 per barrel.

USA is the only country that consumes most of the oil in the world of 22.5 barrels a day 71% of total oil consumption in world production which is used for transportation,gasoline,diesel jet fuel,residual oil.

Value of Indian money is getting down it is also one of the reason for petrol and diesel price hike.But not the only reason.

 A the end next year 2013 the price of petrol will be maximum of  Rs.85-Rs.95 per litre, Diesel will be Rs.55-Rs.60 per litre, LPG  for domestic will be Rs.600-Rs.700 and Commercial will be Rs.2000

This drama in India mainly done by oil companies  to see big profit to all their retailers and agents. If the Oil companies are at loss, then how they pay high dividends to their shareholders every year? In year 200-2010 IOC made a profit of Rs.5556 crore, BPCL with profit Rs.5015 crore, HPCL with profit Rs.575 crore then how come they will become loss? Only people of India becoming weak and loss due to economic price raise.

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