This Is How the Situation Looks After Centre’s Cut in Fuel Prices


This Is How the Situation Looks After Centre’s Cut in Fuel Prices

The excise cut on rising fuel prices comes as a respite. Finance Minister Arun Jaitley said that the Centre will cut Rs 1.50 in excise duty on fuel while an additional Re 1 will be absorbed by the oil marketing companies (OMCs).

The fuel prices have been on the boil for last couple of months. Sample this: Petrol price in Delhi on August 1, 2018 was Rs 76.31 a litre and today it is Rs 84, a hike of Rs 7.69. Diesel on August 1 was at Rs 67.82 a litre and today at Rs 75.45, a hike of Rs 7.63.

Indian Oil Corporation, the largest oil retailer, charges Rs 42.79 a litre to dealers from October 1, excluding VAT and excise to dealers, but what you end up paying is over Rs 80 a litre. However considering the latest development, this price would now be Rs 41.79.  Read more

Leave a Reply

Your email address will not be published.