Excise duty cut: Petrol, diesel prices to be reduced by Rs 2.50/ litre from tomorrow


Excise duty cut: Petrol, diesel prices to be reduced by Rs 2.50/ litre from tomorrow

The Centre on Wednesday threw open the Indian fuel retailing sector to non-oil sector companies in one of the biggest reforms in the oil and gas sector over the past two decades.

The day saw the Cabinet Committee on Economic Affairs (CCEA) approving a new set of guidelines for authorising companies to market transportation fuels, including drastically reducing the earlier investment threshold for firms to be eligible for permit.

According to the earlier policy implemented in 2002, only companies which had invested more than Rs 2,000 crore in upstream segments like hydrocarbon exploration and production, refining, pipelines or liquefied natural gas (LNG) terminals would be eligible for a retail fuel marketing license. Read More

Leave a Reply

Your email address will not be published.