Petrol prices are down by Rs. 2.42 per litre and diesel by Rs. 2.25 per litre from midnight today . And at the same time, in a notification, excise duties of petrol and diesel have been hiked . Excise on Petrol is up to Rs. 10.10 per litre from Rs. 8.95. (Up by Rs. 1.15) Excise on Diesel is up to Rs. 10.25 per litre from Rs. 7.96. (Up by Rs. 2.29!) Excise duties have been hiked so that the government can earn more revenue. Each Rupee hike is an extra Rs. 1,000 cr. that the government earns (we use 1000 cr. liters of the fuels, added together, per month). This will bring petrol prices down to Rs. 58.91 and Diesel to Rs. 48.26 in Delhi. Excise for petrol hasn’t been hiked that much, really. In 2012, the excise duty was Rs. 6.35 which was brought down when oil prices went up.… (Read On…)
[via Capital Mind]
Follow us @investmentheat – lists / @sectorheat