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Oil prices
1. India
In India, the pricing of fuel varies by state, though central taxes still are part of the pump
price of fuel. The Central and state government's taxes make up nearly half of petrol's
pump price. The Central govt has different taxes, which amount to about 24-26% of the
final cost. The states taxes vary, but on average end up making about 20-25% of the final
cost. As a result, approximately about 50% of the pump cost goes to govt in form of
different taxes. On the contrary, the dealer (shop owner) earns a paltry 1-2% of the pump
price as his earning.
For example, in Bangaluru, Karnataka as of May 16, 2011, price of petrol is 71.09
(US$1.29) per litre. Out of this, 17.06 (US$0.31) go to Govt of India in the form of
excise and customs tax. 16.63 (US$0.3) is collected by state government in the form of
sales tax and entry tax. Thus, a total of 33.69 (US$0.61) is collected due to various taxes
(which accounts for around 47% of the total price).[3]