Perhaps for the first time, petrol in India costs more than the superior aviation turbine fuel (ATF) or jet fuel used in airplanes, as the government has levied a record excise duty on the fuel used in two-wheelers and cars.
A litre of petrol in Delhi costs Rs. 58.91 per litre. On the other hand, ATF, which has a higher octane than petrol and is a heavier fraction in the distillation process, is priced at Rs. 52.42 a litre.
Traditionally, petrol, being of lesser quality than ATF, would cost less. But four consecutive excise duty hikes in three months have reversed this.
After four duty hikes totalling Rs. 7.75 per litre, petrol now attracts the highest ever excise rate of Rs. 16.95 per litre.
According to data available from Petroleum Ministry, excise duty on petrol was Rs. 10.53 per litre in April 2002 when the fuel was first deregulated or freed. This rose to Rs. 14.59 by May 2005 by when government control was back in place.
ATF attracts an excise duty of 8 per cent. Diesel currently costs Rs. 48.26 - the lowest since April 2013.
Read more at: Petrol Costs More Than Aviation Fuel in India - NDTVProfit.com
A litre of petrol in Delhi costs Rs. 58.91 per litre. On the other hand, ATF, which has a higher octane than petrol and is a heavier fraction in the distillation process, is priced at Rs. 52.42 a litre.
Traditionally, petrol, being of lesser quality than ATF, would cost less. But four consecutive excise duty hikes in three months have reversed this.
After four duty hikes totalling Rs. 7.75 per litre, petrol now attracts the highest ever excise rate of Rs. 16.95 per litre.
According to data available from Petroleum Ministry, excise duty on petrol was Rs. 10.53 per litre in April 2002 when the fuel was first deregulated or freed. This rose to Rs. 14.59 by May 2005 by when government control was back in place.
ATF attracts an excise duty of 8 per cent. Diesel currently costs Rs. 48.26 - the lowest since April 2013.
Read more at: Petrol Costs More Than Aviation Fuel in India - NDTVProfit.com
