Government’s share of petrol and diesel prices is quite high. Therefore, there has not been much reduction in their prices.
Petrol diesel prices are increasing rapidly. On Monday, petrol increased by 26 paise per liter to 29 paise per liter. Petrol in Mumbai crossed Rs 95 per liter. Now the question is whether the rising price of petrol and diesel will be controlled in the next few days. Crude prices are constantly increasing in the international market. After adding the prices of petrol and diesel in the country, their prices have increased continuously.
Excise duty on petrol and diesel is not expected
Petroleum Minister Dharmendra Pradhan said that the government will not cut excise duty of petrol and diesel at present. In the international market, the price of crude oil has increased to $ 61 per barrel. This is the top level of crude in the last one year. After the introduction of the Corona vaccine, it has increased in the crude due to the boom in economic activity. The taxes of the central and state government in petrol and diesel have reached 61 percent of the total price. While the share of both taxes in diesel prices has risen to 56 per cent.
To compensate for the increased expenses of the central and state governments from the petrol-diesel duty?
Petroleum Minister Dharmendra Pradhan said that by increasing the prices of crude oil from the petroleum producing countries, its prices have increased in the international market. Apart from this, the cost of both the central and state government has increased due to Kovid-19. It is not possible to cut excise duty on petrol and diesel right now. Compared to March last year, petrol prices have increased by Rs 18.87 per liter so far. At the same time, the price of diesel has increased by Rs 16.45 per liter.
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