Lok Sabha Question No. 4092 (UNSTARRED), answered on 2024-12-19
Subject: Price Hike of Petrol and Diesel
Ministry: PETROLEUM AND NATURAL GAS
Asked by: Smt. Geniben Nagaji Thakor

## LOK SABHA UNSTARRED QUESTION NO. 4092 TO BE ANSWERED ON 19 DECEMBER, 2024

## Price Hike of Petrol and Diesel

†4092. Smt. Geniben Nagaji Thakor:

## पेट Ō ोिलयम और Ůाक ृ ितक गैस मंũी

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

- (a) whether the Government is taking any steps to bring down the prices of petrol and diesel;
- (b) if so, the details thereof; and
- (c) the extent to which prices of petrol and diesel have increased during the last ten years and the current year?

## ANSWER

## पेट Ō ोिलयम और Ůाक ृ ितक गैस मंũालय मŐ राǛ मंũी ( ŵी सुरे श गोपी )

## MINISTER OF STATE IN THE MINISTRY OF PETROLEUM AND NATURAL GAS (SHRI SURESH GOPI)

(a) & (b): Prices of petrol and diesel are market determined and Public Sector Oil Marketing Companies (OMCs) take appropriate decision on pricing of petrol and diesel.

Domestically,  Petrol  and  Diesel  prices  have  come  down  to  Rs.  94.77  and  Rs.  87.67  per  litre respectively  (Delhi  prices) as  a result  of  various  steps  taken  by  Government  and  PSU  OMCs, including reduction of Central Excise duty by the Central Government by a total of Rs. 13/litre and Rs. 16/litre on petrol and diesel respectively in two tranches in November 2021 and May 2022, which was fully passed on to consumers. Some State Governments also reduced state VAT rates to provide relief to citizens.

Government  of  India  also  took  several  other  steps  to  insulate  common  citizens  from  high international prices, which  included diversifying the crude import basket, invoking the provisions of Universal Service Obligation to ensure availability of petrol & diesel in domestic market, increasing the blending of ethanol in petrol, etc.

In March, 2024, OMCs reduced the retail prices of petrol and diesel by Rs. 2 per litre each. This reduction  has  assisted  citizens  through  higher  disposable  income,  lower  costs  and  increased consumer spending.

Recently  PSU  OMCs  have  carried  out  intra-state  freight  rationalisation.  This  has  benefitted consumers located at remote areas, far from Petroleum Oil & Lubricants (POL) Depots in form of  reduced  Petrol  and  Diesel  prices  in  remote  parts  within  the  states.  This  initiative  has  also reduced  the  difference  between  the  maximum  and  minimum  retail  prices  of  Petrol  or  Diesel within a state.

(c): The details of yearly average Retail Selling Prices (RSP) of Petrol and Diesel at Delhi since 2014-15 are given at Annexure.

x-x-x-x-x

## Yearly average Retail Selling Prices (RSP) of Petrol and Diesel at Delhi

(Rs./Ltr)

| Year                        |   Average RSP of Petrol |   Average RSP of Diesel |
|-----------------------------|-------------------------|-------------------------|
| 2014-15                     |                   66.37 |                   53.38 |
| 2015-16                     |                   61.59 |                   47.01 |
| 2016-17                     |                   64.61 |                   53.24 |
| 2017-18                     |                   69.2  |                   58.78 |
| 2018-19                     |                   75.37 |                   68.22 |
| 2019-20                     |                   72.69 |                   65.78 |
| 2020-21                     |                   80.84 |                   73.58 |
| 2021-22                     |                   98.05 |                   87.42 |
| 2022-23                     |                   97.9  |                   90.58 |
| 2023-24                     |                   96.63 |                   89.53 |
| 2024-25 (Till 10 th Dec'24) |                   94.73 |                   87.63 |

Source: Petroleum Planning & Analysis Cell