(a) whether the Government has implemented new taxation for rationalizing the cheap crude oil imported from abroad and export of petrol made from it;
(b) if so, the details thereof;
(c) the details of the estimated revenue likely to be generated therefrom;
(d) whether the Government also proposes to make storage of crude oil imported from abroad, petrol and other products made therefrom; and
(e) if so, the details thereof?
MINISTER OF STATE IN THE MINISTRY OF PETROLEUM AND NATURAL GAS
(SHRI RAMESWAR TELI)
(a) & (b): Government has levied the following duties/cesses on exports of Petrol:
Item Type of Duty Previous Duty
(w.e.f. 01.07.2022) Revised Duty
(w.e.f. 20.07.2022)
Petrol SAED/RIC Rs. 6 per litre Nil
SAED : Special Additional Excise duty
RIC : Road Infrastructure Cess
This duty/cess is not linked to crude imports or cost thereof.
(c): The revenue estimation is dependent on factors such as international prices which fluctuate.
(d) & (e): Government of India, through a Special Purpose Vehicle called Indian Strategic Petroleum Reserve Limited (ISPRL), has established Strategic Petroleum Reserves (SPR) facilities with total capacity of 5.33 Million Metric Tonnes (MMT) of crude oil at 3 locations namely (i) Vishakhapatnam (1.33 MMT), (ii) Mangaluru (1.5 MMT) and (iii) Padur (2.5 MMT) capacity. In July 2021, Government has also approved the establishment of two additional commercial-cum-strategic facilities with total storage capacity of 6.5 MMT at Chandikhol (4 MMT) and Padur (2.5 MMT), on a Public Private Partnership (PPP) mode.
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