Petrol to cost over Rs 151 diesel over Rs 110 due to Russia Ukraine War crude oil price rise details

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Photo source: File photo

Representative images.

On Tuesday, Union Finance Minister Nirmala Sitharaman expressed concern over rising crude prices due to the Ukraine crisis and indicated that the central government was looking to use alternative sources. In an interactive session hosted by the BJP’s Karnataka unit, he was asked about rising crude prices in the Indian economy and the impact of the war in Ukraine.

“It will definitely have an impact on the Indian economy,” the minister said. “How we’re going to take this as a challenge and be prepared to reduce the impact is something we’ll see as we go along.”

Meanwhile, crude oil prices touched $ 130 a barrel. Here’s how the price of petrol and diesel in India will be affected.

Final fuel prices from crude oil

March 8, 2022

International price of Brent crude oil

130 per barrel

Currency exchange rate

76.96 / USD

Crude oil in Indian currency

10005

1 barrel of crude oil

159 liters

Crude oil – cost per liter

62.92 per liter

Basic OMC cost calculation

Crude oil based on 130 per barrel

62.92 per liter

Freight + Refinery Processing + Refinery Margin + OMC Margin + Logistics

10.22 per liter

Fuel price after processing (Ready to send to the petrol pump)

73.14 per liter

Central Government Tax and Dealer Commission

Extra: Excise duty + road cess as charged by Central Government (after excise duty is deducted in November)

21.8 / liter on diesel

Commission of Petrol Pump Dealers

2.6 per liter

Diesel will cost Rs 97.54

+ VAT Rs 12.65 / liter per liter of diesel

The total cost of diesel will be Rs 110.19 per liter

The price of petrol today will be 151.78 per liter

Meanwhile, Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Tuesday said oil companies would fix fuel prices and assured that there would be no shortage of crude oil in the country.

“I assure you that there will be no shortage of crude oil. We will ensure that our energy needs are met, even though 85 per cent of our demand depends on crude oil imports and 50-55 per cent on gas,” Puri told a news conference.

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