Centre has refused to cut excise duty despite unprecedented rise in fuel prices in past two months. In February, petrol prices have gone up by Rs 4.29 per litre and diesel by Rs 4.31 per litre in Delhi alone
Pump prices of gasoline, which have breached the Rs 100 a liter mark in several parts of India, are the highest in the South Asian region. (Representative image)
NEW DELHI: Pump prices are so high in India that some of the gasoline and diesel exported to neighboring countries is being smuggled back through porous land borders.
A tanker loaded with 1,360 liters of diesel that was being smuggled to India, where pump prices are at a record, was held last week in Nepal, the police said in a statement.
Pump prices of gasoline, which have breached the Rs 100 a liter mark in several parts of India, are the highest in the South Asian region, according to data compiled by GlobalPetrolPrices.com.
Petrol and diesel in Delhi remained constant at Rs 90.58 and Rs 80.97 a litre, respectively, while they stayed at Rs 97 and Rs 88.60 per litre in Mumbai
Adding petrol and diesel to GST regime could bring down prices: Nirmala Sitharaman Updated Feb 21, 2021 | 12:11 IST
Currently, the central government levies a fixed rate of excise duty while states levy different rates of VAT. Under GST, the two would merge and bring uniformity. Adding petrol and diesel to GST regime could bring down prices: Nirmala Sitharaman
Amid an outcry over record high petrol and diesel prices, Union Finance Minister Nirmala Sitharaman on Saturday said the Centre and state governments will have to together work out a mechanism to bring retail rates to reasonable levels. As much as 60 per cent of the retail price of petrol, which shot above Rs 100-mark in some places in Rajasthan and Madhya Pradesh and is at an all-time high elsewhere in the country, is made up of central and state taxes. Taxes make up for about 56 per cent of the record high diesel rates. Sitharaman, who had increased central excise duty on petrol and diesel by a
In Delhi, petrol price was increased by 39 paise per litre, while diesel costs 37 paise a litre. Following the increase, petrol climbed to Rs 90.58 per litre and diesel has been hiked by Rs 80.97 per litre in the national capital.