Home TRENDING Centre Hikes Excise Duty on Petrol, Diesel, No Impact On Pump Prices

Centre Hikes Excise Duty on Petrol, Diesel, No Impact On Pump Prices

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While the state governments such as Andhra, Telangana and Delhi chose to hike the prices of liquor in an unprecedented way to augment their revenues hit during the lockdown, the centre late Tuesday night raised the excise duty, road and infrastructure cess on petrol by Rs 10 and diesel by Rs 13 dropping a hint at how the life in the post lockdown would be.

This move is expected to fetch an estimated revenue of Rs 1.5 crore tp centre. The hike has taken away the gains falling from the global crude oil prices which are now around $28 per barrel. India consumer is denied the benefits of this rare opportunity.

This exorbitant duty hike means there would be no price cut for petrol and diesel consumers in the near future even if the crude oil prices have hit rock bottom.

Crude oil is selling ar $30 per barrel in the international market but curiously Indian consumers are still paying over Rs 70 for a litre of petrol.

However, minutes after the gazette notification, the GOI made it clear that the pump prices of fuels will not change due to the increase in duties.