REPEATED spikes in petrol and diesel prices have been dominating the headlines in recent weeks, bringing into sharp focus issues such as crude import prices and State and Central levies on oil products.
Data from the Petroleum Planning and Analysis Cell, attached to the Ministry of Petroleum and Natural Gas, show that the average monthly Indian crude basket price rose from $69.22 a barrel in April to $75.25 in May, fell a couple of dollars in the following two months and touched at $72.53 in August.
The Indian basket of crude is an average of Oman and Dubai for sour grades and Brent (dated) for sweet grade.
A look at the historical average prices of the Indian crude basket over the past 14 years shows that the price has been on a roller coaster. It rose from $39.21 in 2004-05 to $83.57 in 2008-09, and then fell to $69.76 the next year. After hitting a peak of $111.89 in 2011-12, it plummeted to $46.17 in 2015-16. For 2017-18, the average price was $56.43.
Maharashtra levied the highest sales tax on petrol as on September 1, followed by Madhya Pradesh, Andhra Pradesh, Punjab and Telangana.
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