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- Petrol and Diesel Costlier by Rs 2 from Tomorrow, Government Increased Excise Duty
New Delhi1 minute ago
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The government has increased excise duty on petrol and diesel by Rs 2 per liter. This will increase the price of petrol and diesel by 2 rupees. Petrol is being sold in Delhi at Rs 94, diesel Rs 87 per liter. The new prices will be implemented from 12 noon.
Right now the government is charging Rs 19.90 liter on petrol and Rs 15.80 on diesel. After this increase, petrol will be charged Rs 21.90 liter and diesel Rs 17.80 liter excise duty.
Prices of petrol and diesel depends mainly on 4 things
- Crude oil price
- US dollar price against rupee
- Tax collected by central and state governments
- Demand for fuel in the country
How are petrol and diesel prices fixed in India?
By June 2010, the government used to determine the price of petrol and it was changed every 15 days. After 26 June 2010, the government quit the determination of petrol prices on the oil companies. Similarly, the government used to determine the price of diesel till October 2014.
From 19 October 2014, the government also handed over this work to the oil companies. Currently, oil companies determine the price of crude oil, exchange rate, tax, transportation of petrol and diesel and many other things in the international market, keeping the price of petrol and diesel daily.
The news is constantly updating ….
