Fix the maximum limit for the price increase of Petrol- Diesel and LPG

Fix the maximum limit for the price increase of Petrol- Diesel and LPG

GOVERNMENT OF INDIA
MINISTRY OF FINANCE DEPARTMENT OF REVENUE 

RAJYA SABHA

UNSTARRED QUESTION NO-190
ANSWERED ON – 20.07.2021

FIXING MAXIMUM PRICE OF PETROL, DIESEL AND LPG

190 Ch. Sukhram Singh Yadav
        Smt. Chhaya Verma
        Shri Vishambhar Prasad Nishad

Will the Minister of Finance be pleased to state:

(a) whether Government would consider to fix the maximum limit for the price increase of petrol- diesel and LPG while presenting the Budget in view of increasing prices of petrol-diesel and cooking gas;

(b) whether Government would consider to subsume the higher prices under various other taxes being recovered so that common people are not made to suffer the burden;

(c) plan of Government to bring the prices of petrol-diesel and LPG within the reach of common people; and

(d) whether petrol and diesel would be brought under purview of GST, so that people could get a relief from the burden of excessive taxes?

FIXING MAXIMUM PRICE OF PETROL

ANSWER
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE 

(SHRI PANKAJ CHAOUDHARY)

(a): Prices of petrol and diesel are market-determined with effect from 26.06.2010 and 19.10.2014 respectively. Since then, the Public Sector Oil Marketing Companies (OMCs) have been taking appropriate decision on pricing of petrol and diesel on the basis of international product prices and other market conditions. The OMCs have increased and decreased the prices of petrol and diesel according to changes in international prices and rupee dollar exchange rate.

The Government continues to modulate the effective price to consumer for Subsidized Domestic LPG.

(b): The excise duty rates on petrol and diesel have been calibrated to generate resources for infrastructure and other developmental items of expenditure keeping in view the present fiscal position.

(c): Same as (a) above.

(d): Article 279 A (5) of the Constitution prescribes that the Goods and Service Tax Council shall recommend the date on which the goods and services tax be levied on petroleum crude, high speed diesel, motor spirit (commonly known as petrol), natural gas and aviation turbine fuel (ATF). Also as per the Section 9(2) of the CGST Act, inclusion of these products in GST will require recommendation of the GST Council. So far, the GST Council, in which the states are also represented, has not made any recommendation for inclusion of petrol and diesel under GST.


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