New Delhi2 hours agoAuthor: Ajay Tiwari
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Trump’s tariff war may stir the economy around the world. Which country’s oil companies are earning huge profits. Because crude oil prices have come to the lowest level of four years ($ 65.41 per barrel).
Earlier in April 2021, the price was $ 63.40 per barrel. Due to this decline, the benefits of refining petrol and diesel have reached a historical level.
According to the rating edge Sia, at present, oil companies are making a profit of ₹ 12-15 per liter on petrol and ₹ 6.12 on diesel. Despite this, oil companies have not cut the prices of petrol and diesel for the last one year.
Recently there was a possibility that the oil companies would reduce the price. Le Kis government increased ₹ 2 liter excise duty. Under its guise, companies survived reducing prices. Oil companies have been avoiding prices for a long time citing losses.
Whereas, the reality is that in the last 5 years, only one IOC in 7 big oil-gas companies had a slight loss in 2019-20. Except for this, these companies are earning huge profits year after year.
The own data of these companies listed in the stock market say this. Not only this, according to the Petro Lium Pla Ning and Analysis Cell of the Ministry of Petro Liam of the Central Government, the Central and State Governments raised 35 lakh crores in 5 years with petrol and diesel.
The Center earned a total of ₹ 21.4 lakh crore from excise duty, dividends and income tax of companies and got ₹ 13.6 lakh crore as a share in VAT and dividend of state governments.
In 4 years, crude oil has become $ 37/barrel cheaper, but the price of petrol is ₹ 9. Are reduced
| Termination | Crude oil | Petrol /Diesel |
| April-21 | 63.40 | 98.56/ 89.11 |
| April-22 | 102.97 | 115.07/ 98.26 |
| April-23 | 83.76 | 108.63/ 93.88 |
| April-24 | 89.44 | 106.51/91.88 |
| April-25 | 72.45 | 106.51/ 91.82 |
| 12 April | 65.41 | 106.51/ 91.82 |
- In 2023-24, 7 big oil companies made 2.29 lakh crore profits. They have been making profit continuously for the last 5 years. Only IOC was Rs 934 crore in 2019-20. There was a loss of
- Reliance Industries Limited (RIL) made the highest profit of ₹ 2.86 lakh crore in the last five years. ONGC stayed at another.
- These oil companies made a total profit of more than ₹ 7 lakh crore between 2019-20 and 2023-24. But did not give much relief to the customers.
In 5 years, 7 big oil companies have earned a profit of 7 lakh crores; In these 5 years, petrol is ₹ 8 and diesel ₹ 2.71 liter has become expensive ….
| Company | 23-24 | In 5 years |
| ONGC | 0.49 | 1.56 |
| RIL | 0.69 | 2.86 |
| IOC | 0.41 | 0.95 |
| BPCL | 0.26 | 0.59 |
| HPCL | 0.27 | 0.40 |
| Gayle in deiya | 0.08 | 0.41 |
| Oil in deiya | 0.05 | 0.22 |
| Total | 2.29 | 7.02 |
85% of subsidy expenditure is being compensated by petrol and diesel In 2024-25, the subsidy bill of the state governments was ₹ 4.7 lakh crore. The total subsidy of the Center was ₹ 3.81 lakh crore this year. Together, the total subsidy in the country was ₹ 8.51 lakh crore. In lieu of this, states got ₹ 3.2 lakh crore from tax on petrol and diesel and ₹ 4 lakh crore to the Center.
The total earnings were ₹ 7.2 lakh crore, including both. That is, about 85% of the subsidies distributed by the Central State Governments were collected by taxing petrol and diesel. Petrol and diesel are a major source of income for the central and state governments.
Center is taking around ₹ 22 tax per liter on petrol The central government charges ₹ 21.90 tax on petrol. The government of Delhi takes ₹ 15.39 VAT. The total tax is ₹ 37.30 liters. The central government takes ₹ 17.80 per liter on diesel. The Delhi government is taking ₹ 12.83 liters as VAT.
The total tax, including both, is ₹ 30.63 realitar. Every person’s petrol consumption in the country is an average of 2.80 liters and 6.32 liters/month of diesel. That is, he pays tax on petrol every month and diesel ₹ 193.58 every month. The two Timah is ₹ 298 by combining them.
4,750 crore liter of annual petrol in the country
The annual consumption of petrol in the country is 4,750 crore liters i.e. a person annual consumption of 33.7. Is. The annual consumption of diesel is 10,700 crore liters i.e. 75.88 L. The person is per year. That is, consumption of petrol and diesel annual per capita 109.6 liters i.e. 9.13 liters per month. This consumption increases at a rate of 10.6% annually.
Crude oil price between $ 65-75
According to oil and gas experts Narendra Taneja, the price of crude oil has been between $ 65-75 within the last three months. On that basis, oil marketing companies (OMC) are in a position to reduce the price by about ₹ 3.5 per liter on ₹ 4 and diesel on petrol.
After Trump’s tariff war, the price of crude oil worldwide has come down by $ 8-10 per barrel. In such a situation, oil companies can also give relief to customers by cutting from next month. The reason is that Indian refineries companies are doing crude oil deals worldwide at current reduced prices. It will take one to one and a half months to bring this oil and make petrol and diesel in the market.
Petrol and diesel have become a ‘political commodity’. To say that the government has handed over the price of petrol and diesel to the market, but for the last one to one and a half years, the government has been reducing and increasing the price according to its own.
Government oil companies are required to compete with private sector oil marketing companies to provide maximum benefit to customers. Otherwise their market share may decrease rapidly. Currently, petrol and diesel are getting cheaper in the petrol pumps of Naira and Reliance across the country.