new Delhi. The international market is seeing a tremendous increase in the price of crude oil. WTI has crossed $ 50 per barrel after one year. Brent is swinging between $ 54 and $ 55 a barrel. As a result, the price of crude oil in the Indian futures market has come down to around Rs 3700 per barrel. Experts say that the coming 6 months of crude oil is very important. During this period, the price of crude oil is expected to increase by 10 to 15 dollars per barrel. If this happens, petrol can reach Rs 100 in the country due to no tax cut and diesel price can cross Rs 90 per liter.
Time is 6 months
Ajay Kedia, director of Kedia Commodity, says that during the lockdown, the prices of crude oil in the international market were significantly reduced. As the economy is opened, the consumption of crude oil has increased. Due to which the price of crude oil has also increased over the past few months. He said that the economy will open up more in the coming days. The vaccine is also coming. After which the price of crude oil is expected to reach $ 65 to 70 per barrel in 6 months and WTI crude oil from $ 60 to 65.
Tax also has an effect
Kedia goes on to say that in the last year and a half, oil companies and the government have made petrol and Diesel price Balance is kept. People have got used to buying petrol for 90 rupees. At the same time, even if the Center reduces its tax, there will be no effect in the price of petrol diesel. At the same time, state governments will not take the risk of reducing their tax because they have lost a lot of revenue during the Kovid period. Whose weight will be longer. Due to which the price of petrol will gradually reach Rs 100 comfortably in just 6 months due to increase in the price of crude oil.
Why didn’t the price increase on crude $ 100
Crude oil prices reached over $ 100 a barrel around 2011. At that time the price of petrol was around 50 rupees. Why did the price not increase then? Answering this question, Anuj Gupta, deputy vice president (commodity and research), Angel Broking, says that the taxes levied by the central and state governments were quite low at that time. At that time, it has now doubled in tax. Because of which there is a difference in the price of petrol and diesel, even after the slight difference in the price of crude oil.
How much does the government charge on petrol and diesel
For example, if you look at Delhi, the central government on excise duty charges Rs 32.98 per liter. At the same time, Rs 19.32 is taken by the state government. The fare is Rs 0.37 per liter, dealer commission is Rs 3.67 per liter. If these three are combined, then Delhi pays taxes of Rs 55.97. Diesel also has a similar situation. Excise duty is Rs 31.83, VAT Rs 10.85 and dealer commission is Rs 2.53 per liter. That is, people of Delhi have to pay taxes and commission of Rs 45.21 per liter.