NEW DELHI, April 1 (TNS): Petrol price in India on Sunday hit a four-year high of Rs 73.73 a litre while diesel rates touched an all-time high of Rs 64.58 in New Delhi, renewing calls for the government to cut excise tax rates.
State-owned oil firms, which have been since June last year revising auto fuel prices daily, today raised petrol and diesel rates by 18 paise per litre each in Delhi, according to a price notification.
Petrol in India’s national capital now costs Rs 73.73 a litre, the highest since September 14, 2014 when rates had hit Rs 76.06. Diesel price at Rs 64.58 is the highest ever, with previous high of Rs 64.22 being on February 7, 2018.
Indian Oil Ministry had earlier this year sought a reduction in excise duty on petrol an diesel to cushion the impact of rising international oil rates but Indian finance minister Arun Jaitley in his Budget presented on February 1 ignored those calls.
India has the highest retail prices of petrol and diesel among South Asian nations as taxes account for half of the pump rates.
Courtesy: Times of India
