Lok Sabha Question No. 430 (UNSTARRED), answered on 2022-02-03
Subject: Regulation of Price of Petroleum Products
Ministry: PETROLEUM AND NATURAL GAS
Asked by: M. Selvaraj

## LOK SABHA UNSTARRED QUESTION NO. 430 TO BE ANSWERED ON 3 RD  FEBRUARY, 2022

## Regulation of Price of Petroleum Products

## 430. SHRI M. SELVARAJ:

## पेोलयम और ाक ृ तक गैस मंी

Will the Minister of PETROLEUM AND NATURAL GAS be pleased to state:

- (a) the total revenue of petroleum companies due to the rise of crude oil price during the last two years and the current year, company and year-wise;
- (b)  the  details  of  the  revenue  generated  from  various  petroleum  products  including cooking gas during the last three years and year-wise; and
- (c)  whether  the  Government proposes to enact a legislation to control and regulate the price hike of petroleum products and cooking gas and if so, the details thereof along with the steps taken/being taken by the Government in this regard?

## ANSWER

## पेोलयम और ाक ृ तक गैस मंालय म राय मंी ( ी रामेवर तेल )

## MINISTER OF STATE IN THE MINISTRY OF PETROLEUM AND NATURAL GAS (SHRI RAMESWAR TELI)

(a)  to  (c)    Prices  of  petrol  and  diesel  have  been  market-determined  with  effect  from 26.06.2010  and  19.10.2014  respectively.  Since  then,  the  Public  Sector  Oil  Marketing Companies (OMCs) take appropriate decision on pricing of petrol and diesel in line with their international product prices, exchange rate, tax structure, inland freight and other cost elements.  Effective 16 June, 2017, daily pricing of petrol and diesel has been implemented in  the  entire  country.    The  prices  of  petroleum  products  in  the  country  are  linked  to  the price of respective products in the international market. However, for domestic LPG the Government continues to modulate the effective price to consumer to insulate the common man from rise in international prices.

The details of Standalone Sales Turnover of the major public sector oil companies during the last two years and current year are given below:

(Rs.Crore)

| Companies   | 2019-20   | 2020-21   | H1-2021-22   |
|-------------|-----------|-----------|--------------|
| ONGC        | 95,701    | 67,891    | 47,218       |
| GAIL        | 71,730    | 56,529    | 38,829       |
| OIL         | 11,761    | 8,410     | 6,187        |
| IOCL        | 5,62,088  | 5,10,546  | 3,23,239     |
| BPCL        | 3,26,393  | 3,00,830  | 1,90,783     |
| HPCL        | 2,86,250  | 2,69,243  | 1,64,619     |
| MRPL        | 60,728    | 50,974    | 32,825       |
| CPCL        | 48,624    | 41,814    | 25,857       |
| NRL         | 14,072    | 18,542    | 10,587       |

The details of revenue contribution to central and state exchequer from petroleum sector from all the activities  for  the  last  two  years  and  current  year,  based  on  data  provided  to Petroleum Planning and Analysis Cell (PPAC) by 16 major oil & gas companies are given below:

Rs./Crores

| Year           | Total Contribution to Central Exchequer   | Total Contribution to State Exchequer   | Total Contribution of Petroleum Sector to Exchequer   |
|----------------|-------------------------------------------|-----------------------------------------|-------------------------------------------------------|
| 2019-20        | 3,34,315                                  | 2,21,056                                | 5,55,370                                              |
| 2020-21        | 4,55,069                                  | 2,17,650                                | 6,72,719                                              |
| H1-2021-22 (P) | 2,16,794                                  | 1,33,130                                | 3,49,923                                              |

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