Thu. Dec 1st, 2022

Fxtriangle | Market analysis | Managed trading

Fxtriangle will make Fx trading look easy.

Diesel to get cheaper in Delhi by over ₹8 per litre

1 min read
Petrol

Diesel in Delhi will get cheaper as the Delhi Cabinet today decided to reduce VAT or value-added tax on the fuel to 16.75% from 30%. This will reduce price of diesel in Delhi from 82 to 73.64 or by 8.36 per litre, said Delhi chief minister Arvind Kejriwal. The Delhi government had in May hiked value-added tax (VAT) on the auto fuels. The Centre levies excise duty on the two auto fuels. It had also hiked excise duty sharply in May this year.

Currently, diesel retails at 81.94 per litre in Delhi while petrol at 80.43.

In India, the price of petrol and diesel you pay at the pump is dependent on international product prices and other market conditions. Petrol and diesel do not come under the purview of goods and services tax (GST).

Other factors in retail price of petrol and diesel include excise duty, VAT, marketing cost and margins, dealers commission etc.

Let us consider July 16th diesel retail selling price of 81.18 per litre in Delhi. According to Indian Oil website, the base price was 27.52 per litre. Add to it freight charges of 0.30 per litre, the price charged to dealers (excluding Excise Duty and VAT) comes to 27.82 per litre. Then add excise duty of 31.83 per litre, dealer commission (average) of 2.55 litre and VAT (including VAT on Dealer Commission) 18.98 litre. The final retail selling price in Delhi comes to about 81.18 per litre, according to Indian Oil website.

 

Leave a Reply

Forex trading and any instruments related to Foreign Exchange Market are Speculative and carry substantial risk of loss of either partial equity or the entire deposit amount. Leverage adds up to the risk, before considering to invest in this venture, you should first consider your financial position and may seek the help of an independent financial advisor. FXtriangle dis-recommends the usage of loan instruments to trade in this market as it can hamper financial position. Please do not invest the money that you cannot afford to lose. FXtriangle provides all its services throughout the Globe Excluding (Nigeria, British Virgin Island & the Islamic Republic of Iran) and also provides limited service in some jurisdictions where investment in Overseas markets / Fx Exchanges are prohibited by Law If you are not sure to contact us before using any of our services. FXtriangle acts as an Independent Corporate Financial Advisor and connects you to various overseas exchanges and cannot be held liable for any financial damage occurring through their side. All of our partnered institutions are regulated in various jurisdictions.FXtriangle conducts an independent background check before partnering with any institutions to fulfill your investment objectives smoothly. The usage of our Business name, Logo or any trademark in any financial forum, website, review website, complaint arena, Billboards without our written permission will attract lawsuits.