Average Cost of Petroleum Products

 

Average Cost of Petroleum Products

Posted On: 10 FEB 2022 5:16PM by PIB Delhi

The Minister of State for Petroleum and Natural Gas, Shri Rameswar Teli in a written reply to a question in the Lok Sabha today informed that the average price of petrol, diesel and domestic LPG at Delhi since 2016-17 is given below:

 

Year	Petrol	Diesel	Domestic LPG
	Rs./Litre		Rs./14.2 Kg cylinder
2016-17	64.61	53.24	549.69
2017-18	69.20	58.78	653.46
2018-19	75.37	68.22	768.12
2019-20	72.69	65.78	694.73
2020-21	80.84	73.58	695.15
2021-22 (till 2nd February)	98.43	87.44	857.40

 

 

Prices of petrol and diesel have been market-determined with effect from 26.06.2010 and 19.10.2014 respectively. Since then, Public Sector Oil Marketing Companies (OMCs) have been taking appropriate decisions on pricing of petrol and diesel on the basis of international product prices and other market conditions. The OMCs increase and decrease prices of petrol and diesel according to changes in international prices and rupee dollar exchange rate. The International prices of Petrol considered in Pricing in the country have risen from USD 67.83/bbl in the year 2017-18 to USD 102.40/bbl on 31-01-2022. The International prices of Diesel considered in pricing in the country have risen from USD 68.19/bbl in the year 2017-18 to USD 104.62/bbl on 31-01-2022.

Government of India has notified the National Policy on Biofuels 2018 which inter-alia envisages increase usage of biofuels in the energy and transportation sectors of the country. The policy aims to utilize, develop and promote domestic feedstock and its utilization for production of biofuels thereby increasingly substituting fossil fuels. Government has decided to advance the target of 20% ethanol blending in petrol from 2030 to 2025. 

Sustainable Alternative Towards Affordable Transportation (SATAT) was launched on 1st October, 2018 aiming to establish an ecosystem for production of CBG from various waste/biomass sources in the country.  SATAT has envisaged developing 5000 CBG plants with total CBG production capacity of 15 Million Metric Tonne Per Annum (MMTPA) i.e. equivalent to 54 MMSCMD of gas by 2023-24        

The Central Government reduced the Central Excise duty on petrol and diesel by Rs. 5 and Rs. 10 per litre respectively effective from 4 November, 2021. The measure was aimed to give a further fillip to the economy and to boost consumption and keep inflation low, thus helping the poor and middle classes. Following this reduction in Central Excise duty, many States/UTs have also reduced the VAT on petrol and diesel.

******