Will increase in excise duty affect petrol and diesel?
Amid the fall in crude oil prices in the international market, the government on monday increased the excise duty on petrol and diesel by Rs 2 per liter each. This information was given in an official order.
This will not affect Uttar Pradesh. The Ministry of Petroleum and Natural Gas, government of india gave information in this regard. It was tweeted that- Public sector oil marketing companies have informed that there will be no increase in the retail prices of petrol and diesel after the increase in excise duty rates today.
According to the notification of the Center, the excise duty on petrol has been increased by Rs 13 per liter and on diesel by Rs 10 per liter. However, this order does not state what kind of impact the increase in excise duty will have on the retail prices of petrol and diesel.
What did Union minister Hardeep puri say?
Talking about diesel, it is currently available at Rs 87.68 per liter in the state capital Lucknow. Whereas in noida this price is Rs 88.01 per liter. Meanwhile, industry sources said that despite the increase in excise duty, there is no possibility of change in the retail prices of petrol and diesel. Due to the fall in crude oil prices internationally in the last few days, there was hope of reduction in the retail prices of petrol and diesel, but now with the increase in excise duty, the possibility of this happening has reduced. On the increase in excise duty by Rs 2 each on petrol and diesel by the Central government, Union Petroleum and Natural Gas minister Hardeep puri said - This will not have any effect on the common consumer. Let me make it clear that the increase in excise rates will not affect the common people.
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