Oil Ministry Nearly Cut in Excise Duty on Petrol and diesel as Prices Rise

By Priyanka Sharma, 2018-01-23 06:19:07

On Tuesday, the price of petrol in Mumbai hit Rs 80.25 per litre for the first time since August 2014. The price increased due to instability in the United States dollar and the restart of some oil fields in Libya reasons the market to waver.

Worried over rising fuel prices, the government may push the cut in excise duty on petrol and diesel. However, Finance Ministry will be responsible for final decision.

Indian Oil announced, the price of petrol is Rs 75.09 per litre in Kolkata, Rs 75.06 in Chennai while diesel was being sold for 67.30 per litre in Mumbai, the price in Kolkata is Rs 65.86. Diesel price is Rs 66.64 per litre in Chennai and in Delhi it is Rs 63.20.

The Petroleum and Natural Gas Minister told reporters in Ujjain."We are trying that petrol, diesel and kerosene should also come under the ambit of GST. We are hopeful that the GST Council will agree to it shortly.”

Source: Kaniz.in

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