TIL Desk/Business/New Delhi/ Petrol price hit a four-year high of Rs 73.73 a litre, while diesel rates touched an all-time high of Rs 64.58 in the national capital on 2 April, renewing calls for the government to cut excise tax rates.
State-owned oil firms, which have been since June 2017 revising auto fuel prices daily, raised petrol and diesel rates by 18 paise per litre each in Delhi, according to a price notification. Petrol in the national capital now costs Rs 73.73 a litre, the highest since 14 September 2014, when rates had hit Rs 76.06. Diesel price at Rs 64.58 is the highest ever, with previous high of Rs 64.22 being on 7 February 2018.
The Oil Ministry had earlier in 2018, sought a reduction in excise duty on petrol and diesel to cushion the impact of rising international oil rates, but Finance Minister Arun Jaitley in his Budget presented on 1 February ignored those calls. India has the highest retail prices of petrol and diesel among South Asian nations as taxes account for half of the pump rates.
Related Posts
