A cut of up to Rs 2.5 per litre in petrol and diesel prices notwithstanding, auto fuel rates in India are about twice the Singapore benchmark with taxes accounting for nearly half the current rates, Moody’s Investors Service said on Friday.
The government this week cut excise duty by Rs 2 per litre as part of efforts to reduce the prices of petrol and diesel. Petrol in Delhi now costs Rs 68.38 a litre, down from Rs 70.88. A litre of diesel now comes for Rs 56.89 as against Rs 59.14 previously.
“The retail selling prices of petrol and diesel in India even after the reduction is approximately 2.5 and 2 times that of Singapore benchmark prices respectively. As much as 42-50 per cent of the retail selling prices will continue to go to the government as taxes,” it said. Read More…
Latest posts by Moneycontrol.com (see all)
- Dharmendra Pradhan Lays Foundation Stones Of Two LNGPipelines In Odisha – December 17, 2017
- Railways To Offer Discounts Like Hotels, Airlines; Flexi-Fare To Be Revamped: Piyush Goyal – December 17, 2017
- Focus On Energy Space Key For India’s Growth, Says Bhatnagar Of PhillipCapital – December 15, 2017