No Relief: Government Rules Out Excise Duty Cut On Petrol And Diesel


No Relief: Government Rules Out Excise Duty Cut On Petrol And Diesel

Oil Minister Dharmendra Pradhan has ruled out a reduction in excise duty to bring relief to petrol and diesel consumers after prices sharply rose in the past two months.

Petrol and diesel prices have risen Rs 6.03/litre and Rs 3.68/litre respectively since July 1 in Delhi. Petrol is priced at Rs 69.12/litre and diesel Rs 57.01/litre in Delhi, according to Indian Oil Corp website. Prices in other states vary due to local levies but have witnessed a similar hike.

The current prices of petrol and diesel do not warrant a cut in excise duty, Pradhan told reporters. Government does not control the domestic prices of two fuels, which move in tandem with international rates. Read More…

 

 

 

Credit By: ET

 

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