MINISTER OF FINANCE (SHRI ARUN JAITLEY)
(a): The Current Basic Customs Duty and Central Excise duty rates on petrol and diesel are as under:
Product Basic Customs duty Central Excise duty 1. Petrol (unbranded) 2.5% Rs.12.95 per litre [4.95 BED + 6 SAED + 2 AED] 2. Petrol (branded) 2.5% Rs.14.10 per litre [6.10 BED + 6 SAED + 2 AED] 3. HSD (unbranded) 2.5% Rs.5.96 per litre [3.96 BED + 2 AED] 4. HSD (branded) 2.5% Rs.8.25 per litre [6.25 BED + 2 AED] # BED : Basic Excise Duty AED : Additional Excise Duty SAED : Special Additional Excise Duty
In addition, Education Cess @ 2% and Secondary & Higher Education Cess @ 1%, by way of surcharge, are also applicable both on imported and domestic petrol and diesel.
(b): Yes. Vide Notification No.22/2014-Central Excise, dated 12.11.2014 the Basic Excise Duty (BED) on petrol (branded as well as unbranded) and diesel (branded as well as unbranded) was increased by Rs.1.50 per litre. Further, vide Notification No.24/2014-Central Excise, dated 02.12.2014 the Basic Excise Duty (BED) on petrol (both branded as well as unbranded) was increased by Rs.2.25 per litre and the BED on diesel (both branded as well as unbranded) was increased by Re.1 per litre. The rates of other excise duties, including special additional excise duty (SAED), additional excise duty (AED) and Education Cess and Secondary & Higher Education Cess remain unchanged. These increases in excise duty on petrol and diesel have been effected taking into consideration the continued fall in international prices of crude and thereby petrol and diesel.
(c): Yes. The average prices of Brent Crude oil during last 6 months are as under:
Month Jun,14 Jul,14 Aug,14 Sep,14 Oct,14 Nov14 Price ($/bbl) 111.65 106.64 101.61 97.30 87.40 78.89
(d): The Government has made the prices of Petrol (effective 26.10.2010) and Diesel (effective 19.10.2014) market determined. Since then, the Public Sector Oil Marketing Companies (OMCs) take appropriate decision on the pricing of Petrol and Diesel in line with the international oil prices and market conditions. The OMCs have also carried out reduction in price of Petrol and Diesel (after 19.10.2014) in line with their reduction in international prices recently.
(e): Revision in Prices of Petrol and Diesel since 07.06.2014 are as under:
Date Petrol Diesel (Rs./litre) 07.06.2014 71.51 57.28 25.06.2014 71.56 57.28 01.07.2014 73.60 57.84 01.08.2014 72.51 58.40 16.08.2014 70.33 58.40 31.08.2014 68.51 58.97 01.10.2014 67.86 58.97 15.10.2014 66.65 58.97 19.10.2014 66.65 55.60 01.11.2014 64.24 53.35 01.12.2014 63.33 52.51 Current RSP 63.33 52.51
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