The government raised excise duty on petrol and diesel by Rs.1.50 to shore up its kitty but fuel prices will remain unchanged -at least for the next fortnight.
A government notification said the basic excise duty has been hiked from Rs.1.20 per litre to Rs.2.70 a litre on normal, or unbranded, petrol. On unbranded diesel, it has been raised from Rs.1.46 a litre to Rs.2.96 per litre. On branded petrol with additives, the duty has been raised from Rs.2.35 to Rs.3.85 and on branded diesel from Rs.3.75 to Rs.5.25 per litre.
Excise duty is split into four components -basic excise, additional excise, special excise and cess on excise. After adding cess on the incremental increase in basic excise, the total duty has risen to Rs.11.02 per litre from Rs.9.47 a litre on unbranded petrol and to Rs.5.11 per litre from Rs.3.56 litre on unbranded diesel.
B Ashok, chairman of the country's largest refiner marketer IndianOil, said the company had no plan to pass the additional excise burden on to consumers “as of now“.
No comments:
Post a Comment