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Prices of petroleum products in India are linked to the price of respective products in the international market.

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The Minister of State for Petroleum and Natural Gas, Shri Rameswar Teli in a written reply to a question in the Lok Sabha today informed that the 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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