Post May 26, 2014, International Crude Oil Prices have come down by more than 40%. Price of crude was $108.05 on May 26, 2014, while the price of international crude is down to $64.93 on March 13, 2018.
As International crude prices reduced by 40% (May 2014- Mar2018) Prices of Diesel and Petrol see no reduction.
|Present Price |
|Ideal price |
(as per decrease in Intl.prices)
The “Big Oil Heist”
BJP Govt. earned a windfall of 27.35 Lakh Crore by levying various Central Taxes on Petrol/Diesel ! (till the Q2 of 2017-18)
Where has the money gone? Why was the benefit of reduced Oil Prices not given to the Consumer?
Instead of passing the benefit to ordinary Indians, they got brutally taxed by BJP:
·Percentage Increase in Excise Duty of Petrol since May 2014 —211.7%.
It was just Rs 9.2/litre in May 2014, while it is Rs19.48/litre now.
Percentage Increase in Excise Duty of Diesel since May 2014 —443.06%.
It was just Rs 3.46/litre in May 2014, while it is Rs 15.33/litre now. · Central Excise duty has been hiked 12 times since BJP came to power