Prices of petrol and diesel have been made market-determined by the Government with effect from 26.06.2010 and 19.10.2014 respectively. Since then, the Public Sector Oil Marketing Companies (OMCs) take appropriate decision on pricing of petrol and diesel in line with international product prices and other market conditions.
The total contribution to Central and State Exchequer from petroleum sector during the last five years is given as under:-
(` in crore)
| Particulars | 2014-15 | 2015-16 | 2016-17 | 2017-18 | 2018-19 (P) |
| Contribution to Central Exchequer | 172,065 | 254,297 | 335,175 | 345,249 | 365,113 |
| Contribution to State Exchequer | 160,554 | 160,209 | 189,770 | 209,155 | 230,325 |
| Total Contribution of Petroleum Sector to Exchequer | 332,619 | 414,506 | 524,945 | 554,404 | 595,438 |
The details of profit earned by PSU OMCs from all activities during the last five years are given as under:-
(` in crore)
| Companies | 2014-15 | 2015-16* | 2016-17 | 2017-18 | 2018-19 |
| IOCL | 5,273 | 11,242 | 19,106 | 21,346 | 16,894 |
| HPCL | 2,733 | 3,725 | 6,209 | 6,357 | 6,029 |
| BPCL | 5,085 | 7,056 | 8,039 | 7,919 | 7,132 |
* Figures are as per IND AS from financial year 2015-16 onwards
