Price formulat concealed from the country ... finally comes out!

Price formula concealed from the country ...

finally comes out!

Various opinions were published during the past about fuel charges being activated in an up and down manner from time to time. Some news were  revealed to the effect, in a humorous tone that even the Finance Minister was not aware about it. When matters stood at that level ... Minister Mangala exposed at price formula at a media briefing

held today (18).

As such, that price formula is: MRP = Vi + Vii + Viii + Viv

It is the highest retail price while Vi is the refers to port charges. The Vii is the processing cost of the price formula while Viii is the administrative cost. Viv is taxation. When taken in reference to the maximum retail price which is Octane 92 one petrol litre of Rs.157.22, it indicates: 157.22 = 93.84 + 5.87 + 3.83 + 53.68 and another point revealed according to this fuel pricing formula is that a tax of Rs. 53 and 68 cents is levied on a landed litre of petrol unloaded at 93 and cents 84 at port. As such, something close to 1/3 of a value from the maximum price is charged as taxes. The relevant press report, from below