Petrol and Diesel Prices Unaffected by Reduced Excise Duty Amid Global Oil Price Surge

Petrol or diesel prices at petrol pumps will not come down even if the excise duty is reduced. The government statement says that the duty burden has been reduced to give advantage to oil marketing companies of countries like Indian Oil. Oil prices are rising in the international market due to the US war on Iran. India has not condemned this attack. Meanwhile, there is a serious crisis in the oil transportation. Meanwhile, the Center has recently increased the price of cooking gas in domestic cylinders by 60 rupees. According to the Center's decision, 10 rupees per liter has been reduced in petrol and diesel. It also says that the price at petrol pumps has not come down. In the four weeks after the attack on Iran, the price of international oil has increased by about 75 percent. The Center claims that the oil marketing companies of India are making a total of 2400 million rupees a day. They will get some benefit if the duty exemption is given. The price of oil in the international market has been discussed in the parliament for the last three years.