Petrol and diesel rates hiked by Rs 1.50
Posted on: 13/Nov/2014 4:11:38 PM
Hike in price of petrol and diesel after continuous dip for past six months
Following a hike in rates of petrol production tax, rates of petrol and diesel are increased by Rs 1.50 per litre.
This increase in production tax will fetch the government with increased profit of Rs 13,000 crore. Following a reduction in rates of petrol for over 6 six times since August, the rates are now climbing up. This is likely to bring a disappointment among the public.
The production tax of these fuels – petrol and diesel - is increase by Rs 1.50 per litre. Production taxes for petrol sold by companies that are not branded are hiked from Rs 1.20 to Rs 2.70, whereas tax imposed on branded petrol is increased from Rs 2.35 to Rs 3.85.
Coming on to the diesel rates, the production tax is increased from existing range of Rs 1.46 to Rs 2.96 for diesels that are sold by non-branded companies, whereas in cases of branded diesel, the tax rate is hiked from Rs 3.75 to Rs 5.25.
Post your comments on such a hike in price of petrol and diesel all of a sudden.
