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Petrol to cost over Rs 151, diesel over Rs 110 if...: Here's the math

Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on Tuesday said oil companies will determine the fuel prices and assured that there will be no shortage of crude oil in the country.

Edited by: India TV Business Desk New Delhi Updated on: March 08, 2022 18:47 IST
Representational image.
Image Source : FILE PHOTO

Representational image.

Union Finance Minister Nirmala Sitharaman on Tuesday expressed concern over rising crude prices due to the Ukraine crisis and indicated that the central government is looking to tap alternative sources. At an interactive session organised by BJP's Karnataka unit, she was asked about the impact of rising crude prices and war in Ukraine on the Indian economy.

"It will certainly have an impact on Indian economy", the Minister said. "How much we are going to be prepared to take it as a challenge and mitigate the impact is something which we will have see as we go (along)".

Meanwhile, as crude oil price touch $130 per barrel, here's the math how petrol, diesel prices may be affected in India.

Crude Oil to Final Fuel Price
8th march,2022
International Price of Brent Crude Oil
130 $ per Barrel
Currency Exchange Rate
Rs 76.96 / USD
Crude Oil in Indian Currency
Rs 10005
1 Barrel of Crude Oil
159 Litre
Crude Oil  - Cost per Litre
Rs 62.92 per Litre
Basic OMC Cost Calculation
 
 
Crude Oil  based on 130$ per barrel
 
Rs 62.92 per Litre
Freight + Refinery Processing + Refinery Margins + OMC Margin + Logistics
 
Rs 10.22 per Litre
Fuel Price after Processing (Ready to send to Petol Pump)
 
Rs 73.14 per Litre
 
 
 
Central Government Taxes & Dealer Commission
 
 
Additional: Excise Duty + Road Cess as Charged by Central Government (after Excise Duty Cut in November)
 
Rs 21.8 / Lit on Diesel
Commission to Petrol Pump Dealers
 
Rs 2.6 per Litre
price of Diesel will be Rs 97.54
+VAT Rs 12.65 / Litre on Diesel

Diesel Total cost will be Rs 110.19 per litre

Petrol price today will be 151.78 per litre
   

Meanwhile, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on Tuesday said oil companies will determine the fuel prices and assured that there will be no shortage of crude oil in the country.

"I assure you all that there will be no shortage of crude oil. We will make sure that our energy requirements are met, even though 85 per cent of our requirements are dependent on imports for crude oil and 50-55 per cent on gas," Puri said at a press conference.

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