Non-committal on excise duty cut on petrol diesel Govt

Non-committal on excise duty cut on petrol diesel Govt

Oil Minister Dharmendra Pradhan remained non-committal on cutting excise duty on petrol and diesel to cushion the rise in retail fuel prices that followed the rally in international oil rates. Petrol and diesel prices have risen by almost Rs 1.5 per litre in the last one month, taking away gains accrued from a one off cut in excise duty cut on the two fuels. Brent futures this week touched Rs 64.65perbarrel. For much of this year, oil prices have been around Rs 55perbarrel.The Centre had, in October, cut excise duty on petrol and diesel by Rs 2 per litre to moderate the relent less rise in fuel prices.

The Business Standard, New Delhi, 10th November 2017

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