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Excise duty on petrol News

Excise duty on petrol

22 May 2022

Central Govt cuts excise duty on petrol by Rs 8 per litre, on diesel by Rs 6 per litre

After the long-standing demand, the central government has given great relief to the people. Center has reduced the excise duty on petrol and diesel. The Center has reduced tax by Rs 8 on petrol and Rs 6 on diesel. After this, petrol has become cheaper by Rs 9.50 and diesel by Rs 7.But after this cut, politics has started. The opposition has targeted the government.

22 May 2022

Petrol, diesel get cheaper, check excise duty and VAT on fuel

The government had increased petrol and diesel prices on numerous occasions in the past few months. The base price of per litre petrol is Rs 57.13 in Delhi. Excise duty on petrol now stands at Rs 19.90 per litre.

Excise duty on petrol

22 May 2022

Namaste India: Government cuts excise duty on petrol, diesel

After the long-standing demand, the central government has given great relief to the people. Center has reduced the excise duty on petrol and diesel. The Center has reduced tax by Rs 8 on petrol and Rs 6 on diesel. After this, petrol has become cheaper by Rs 9.50 and diesel by Rs 7.

28 Dec 2017

Cut sales tax or VAT on petrol and diesel: Pradhan to states

Oil Minister Dharmendra Pradhan further said that the petroleum sector would be brought under the ambit of the Goods and Services tax (GST) as and when the consensus is reached among the states.

07 Nov 2017

Petrol, diesel prices to cost more as crude oil hits 28-month high

Globally, oil prices rose 3.5 percent on Monday, hitting the highest since early July 2015, as Saudi Arabia's crown prince cemented his power with an anti-corruption crackdown, while the US rig count fell and markets continued to tighten.

06 Oct 2017

Despite cut, petrol, diesel, rate in India 2.5 times of Singapore benchmark: Moody's

The government this week cut excise duty by Rs 2 per litre as part of efforts to reduce the prices of petrol and diesel.

Excise duty on petrol

03 Jul 2016

Government may not cut excise duty on petrol, diesel for now

Government may not cut excise duty on petrol and diesel in the near-term if it accepts the suggestions made in the approach paper submitted by Chief Economic Adviser for maintaining status quo when oil prices can climb by another USD 15 a barrel.

24 Feb 2016

Global crude down 2/3rd since May '14; petrol falls only 16%

A litre of petrol cost Rs 71.41 in May 2014 when international oil was at USD 106.85 per barrel but even after over two-third fall in global rates, the price of petrol has witnessed only 16 percent decline and remains at Rs 60 per litre.

30 Jan 2016

Excise duty hiked on petrol by Re 1 per litre, on diesel by Rs 1.5

The increase in excise duty will fetch the government over Rs 3,200 crore during the remainder period of the fiscal.

Excise duty on petrol

30 Jan 2016

Govt hikes excise duty on diesel by Rs 1.5 a litre, on petrol by Re 1

The government on Saturday hiked excise duty on petrol by Re 1 per litre and by Rs 1.5 a litre on diesel, the fourth increase in duties in less than six weeks.

Petrol price cut

16 Jan 2016

Petrol gets cheaper by 32 paise per litre, diesel by 85 paise despite excise duty hike

After the fourth reduction in rates in six weeks, petrol in Delhi will cost Rs 59.03 per litre.

Excise duty on petrol

15 Jan 2016

Govt hikes excise duty on diesel by Rs 2 per litre, on petrol by 75 paise

Basic excise duty on unbranded or normal petrol has been increased from Rs 7.73 to Rs 8.48 per litre and the same on unbranded diesel from Rs 7.83 to Rs 9.83 per litre.

08 Jan 2016

Petrol, diesel prices to go up as govt likely to further hike excise duty

Petrol and diesel prices are set to cost more as government is likely to hike excise duty on petrol and diesel before March for boosting revenue and meet its fiscal deficit target.

02 Jan 2016

Diesel gets costlier by Rs 2 per litre, petrol by 37 paise as govt hikes excise duty

On diesel, total excise duty after including special excise duty will be Rs 13.83 per litre as compared to Rs 11.83 now.

06 Nov 2015

Excise duty on petrol hiked by Rs 1.6/litre, diesel by 40 paisa

The government Friday night hiked excise duty on petrol by Rs 1.60 per litre and the same on diesel by 40 paisa a litre to mop up additional revenue to meet budgetary targets.

20 Aug 2015

Govt not to hike excise duty on petrol, diesel

The government had in four installments raised excise duty on petrol and diesel between November and January to take away the reduction in retail rates that was warranted from falling international oil prices.

30 Jan 2015

Govt changes excise duty structure on branded diesel

The government has changed the excise duty structure on branded or premium diesel, shifting from fixed rates to a combination of ad valorem and fixed duty.

16 Dec 2014

No roll-back of excise duty hike on diesel, petrol: FinMin

The government on Tuesday said it has no plans to roll-back the recent hike in excise duty on diesel and petrol.

02 Dec 2014

OMC shares drop after excise duty on petrol, diesel raised

Shares of three listed state-owned oil marketing companies (OMC) fell up to 4 percent at close today, after the government raised excise duty on petrol by Rs 2.25 per litre and by Re 1 a litre on diesel.

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