Excise Duty: Change in excise duty on petrol and diesel, government increased it by Rs 2 per liter

Excise Duty: Excise duty on petrol and diesel is going to increase from April 8. This duty can affect the pocket of the common man. Oil companies can increase the prices anytime.  

Excise Duty: Excise duty on petrol and diesel has been increased. The central government has issued a gazette notification announcing the increase in excise duty on petrol and diesel. This excise duty will directly affect the pocket of the common man. It has increased by two rupees per liter. Now it remains to be seen whether the country's oil companies increase the rate of petrol and diesel or people will get petrol and diesel at the same price as the current rate? 

Decision to increase earnings 

In the international market, the price of crude oil has come down by 15 percent in the last few days. According to a data, the price of 1 barrel of crude oil in the international market has reached $63.34. This is the lowest level in itself. In this way, the profit of companies supplying petrol and diesel has increased. Keeping this in mind, the government has decided to increase its earnings. Now the government has decided to increase the excise duty on petrol and diesel by two rupees.  

Will it affect inflation? 

This excise duty will come into effect from Tuesday, i.e. 8th April. Its impact can be directly on the companies. Now it remains to be seen how the oil companies react to this. Whether they increase the price of petrol and diesel or not. Will this burden fall on the common people? If the oil companies increase the rate, then this can also increase inflation. 

Last year the price was reduced by Rs 2 

Let us tell you that the oil companies last changed the price of petrol and diesel on March 15 last year. Finance Minister Nirmala Sitharaman had reduced the price of petrol and diesel by two rupees. After this, the price of petrol and diesel in all the four metros of the country came down by a flat 2 rupees. At present, the price of petrol in the capital is less than Rs 100. At the same time, the price of petrol in metros Chennai, Kolkata and Mumbai remains more than Rs 100. 

News is originally taken from: https://bit.ly/42k8Bmb

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