Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 150
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Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::index() - APP/Controller/ArtileDetailController.php, line 151
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
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Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 97
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

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                            <div align="justify">-Scroll.in<br /><br /><em>The price of petrol and diesel remains as high even though the cost of importing crude oil has halved from 2011. <br /></em><br />In 2011 when the cost of oil being imported by India was averaging above $100 per barrel, the retail price that citizens paid for petrol in Delhi averaged Rs 65 per litre. But today, when the cost of importing oil is substantially lower at an average of $50 per barrel &ndash; half of that prevailing in 2011 &ndash; why are consumers required to pay above Rs 70 per litre of petrol? Shouldn&rsquo;t the retail price of oil products, both petrol and diesel, come down somewhat if not proportionately?<br /><br />Potentially, yes. The Bharatiya Janata Party-led government could reduce the prices. But the crisis in the economy has tied its hands. A good part of the blame for the economic crisis lies with the government and the rest on global economic trends. <br /><br /><em>Why are the costs of petrol and diesel high in India?<br /></em><br />India imports above 80% of its crude oil requirement. So, the cost of imported oil is critical. This crude oil is then refined. The refineries add the cost of refining and their profit margin to the cost of the oil, and sells it onwards to Oil Marketing Companies such as the Indian Oil Corporation. These firms, in turn, stack up their costs of selling fuel and their profit margin, and supply petrol and diesel to retail petrol pump owners. Retailer pump owners are allowed a fixed profit margin when selling to consumers. But taxes imposed by the Central and state governments are also added to this topped up price.<br /><br />Just over 50% of the price consumers pay for petrol is taxes that go to the Centre and state. The tax rates imposed by the Centre and state on the production and sale of petrol and diesel have risen over the last two years. <br /><br />Please <a href="https://amp.scroll.in/article/851164/the-centre-could-cut-taxes-on-fuel-to-provide-relief-from-rising-prices-but-heres-why-it-might-not" title="https://amp.scroll.in/article/851164/the-centre-could-cut-taxes-on-fuel-to-provide-relief-from-rising-prices-but-heres-why-it-might-not">click here</a> to read more. <br /></div>                                                           
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                            <div align="justify">-Scroll.in<br /><br /><em>The price of petrol and diesel remains as high even though the cost of importing crude oil has halved from 2011. <br /></em><br />In 2011 when the cost of oil being imported by India was averaging above $100 per barrel, the retail price that citizens paid for petrol in Delhi averaged Rs 65 per litre. But today, when the cost of importing oil is substantially lower at an average of $50 per barrel &ndash; half of that prevailing in 2011 &ndash; why are consumers required to pay above Rs 70 per litre of petrol? Shouldn&rsquo;t the retail price of oil products, both petrol and diesel, come down somewhat if not proportionately?<br /><br />Potentially, yes. The Bharatiya Janata Party-led government could reduce the prices. But the crisis in the economy has tied its hands. A good part of the blame for the economic crisis lies with the government and the rest on global economic trends. <br /><br /><em>Why are the costs of petrol and diesel high in India?<br /></em><br />India imports above 80% of its crude oil requirement. So, the cost of imported oil is critical. This crude oil is then refined. The refineries add the cost of refining and their profit margin to the cost of the oil, and sells it onwards to Oil Marketing Companies such as the Indian Oil Corporation. These firms, in turn, stack up their costs of selling fuel and their profit margin, and supply petrol and diesel to retail petrol pump owners. Retailer pump owners are allowed a fixed profit margin when selling to consumers. But taxes imposed by the Central and state governments are also added to this topped up price.<br /><br />Just over 50% of the price consumers pay for petrol is taxes that go to the Centre and state. The tax rates imposed by the Centre and state on the production and sale of petrol and diesel have risen over the last two years. <br /><br />Please <a href="https://amp.scroll.in/article/851164/the-centre-could-cut-taxes-on-fuel-to-provide-relief-from-rising-prices-but-heres-why-it-might-not" title="https://amp.scroll.in/article/851164/the-centre-could-cut-taxes-on-fuel-to-provide-relief-from-rising-prices-but-heres-why-it-might-not">click here</a> to read more. <br /></div>                                                           
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                            <div align="justify">-Scroll.in<br /><br /><em>The price of petrol and diesel remains as high even though the cost of importing crude oil has halved from 2011. <br /></em><br />In 2011 when the cost of oil being imported by India was averaging above $100 per barrel, the retail price that citizens paid for petrol in Delhi averaged Rs 65 per litre. But today, when the cost of importing oil is substantially lower at an average of $50 per barrel &ndash; half of that prevailing in 2011 &ndash; why are consumers required to pay above Rs 70 per litre of petrol? Shouldn&rsquo;t the retail price of oil products, both petrol and diesel, come down somewhat if not proportionately?<br /><br />Potentially, yes. The Bharatiya Janata Party-led government could reduce the prices. But the crisis in the economy has tied its hands. A good part of the blame for the economic crisis lies with the government and the rest on global economic trends. <br /><br /><em>Why are the costs of petrol and diesel high in India?<br /></em><br />India imports above 80% of its crude oil requirement. So, the cost of imported oil is critical. This crude oil is then refined. The refineries add the cost of refining and their profit margin to the cost of the oil, and sells it onwards to Oil Marketing Companies such as the Indian Oil Corporation. These firms, in turn, stack up their costs of selling fuel and their profit margin, and supply petrol and diesel to retail petrol pump owners. Retailer pump owners are allowed a fixed profit margin when selling to consumers. But taxes imposed by the Central and state governments are also added to this topped up price.<br /><br />Just over 50% of the price consumers pay for petrol is taxes that go to the Centre and state. The tax rates imposed by the Centre and state on the production and sale of petrol and diesel have risen over the last two years. <br /><br />Please <a href="https://amp.scroll.in/article/851164/the-centre-could-cut-taxes-on-fuel-to-provide-relief-from-rising-prices-but-heres-why-it-might-not" title="https://amp.scroll.in/article/851164/the-centre-could-cut-taxes-on-fuel-to-provide-relief-from-rising-prices-but-heres-why-it-might-not">click here</a> to read more. <br /></div>                                                           
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    <br><a href="https://amp.scroll.in/article/851164/the-centre-could-cut-taxes-on-fuel-to-provide-relief-from-rising-prices-but-heres-why-it-might-not" class="re" target="_blank">Scroll.in, 20 September, 2017, https://amp.scroll.in/article/851164/the-centre-could-cut-taxes-on-fuel-to-provide-relief-from-rising-prices-but-heres-why-it-might-not</a><div class="clear"></div>
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The Centre could provide relief from rising fuel prices by cutting taxes, but here's why it may not -Nitin Sethi and Mayank Jain

Published on Sep 22, 2017   Modified on Sep 22, 2017

-Scroll.in The price of petrol and diesel remains as high even though the cost of importing crude oil has halved from 2011. In 2011 when the cost of oil being imported by India was averaging above $100 per barrel, the retail price that citizens paid for petrol in Delhi averaged Rs 65 per litre. But today, when the cost of importing oil is substantially lower at an average of $50 per barrel – half of that prevailing in 2011 – why are consumers required to pay above Rs 70 per litre of petrol? Shouldn’t the retail price of oil products, both petrol and diesel, come down somewhat if not proportionately? Potentially, yes. The Bharatiya Janata Party-led government could reduce the prices. But the crisis in the economy has tied its hands. A good part of the blame for the economic crisis lies with the government and the rest on global economic trends. Why are the costs of petrol and diesel high in India? India imports above 80% of its crude oil requirement. So, the cost of imported oil is critical. This crude oil is then refined. The refineries add the cost of refining and their profit margin to the cost of the oil, and sells it onwards to Oil Marketing Companies such as the Indian Oil Corporation. These firms, in turn, stack up their costs of selling fuel and their profit margin, and supply petrol and diesel to retail petrol pump owners. Retailer pump owners are allowed a fixed profit margin when selling to consumers. But taxes imposed by the Central and state governments are also added to this topped up price. Just over 50% of the price consumers pay for petrol is taxes that go to the Centre and state. The tax rates imposed by the Centre and state on the production and sale of petrol and diesel have risen over the last two years. Please click here to read more.

Scroll.in, 20 September, 2017, https://amp.scroll.in/article/851164/the-centre-could-cut-taxes-on-fuel-to-provide-relief-from-rising-prices-but-heres-why-it-might-not

Tagged with: Fuel Prices Petrol Crude Oil Prices Diesel

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