Here comes another fuel price hike…
In a move which is sure to stun people of India, Government of India has decided to raise custom duty on Petrol and Diesel, while the custom duty has gone up from 2.5% to 7.5%, excise duty has gone up by Rs. 1 a liter, which altogether amount to a rise of Rs. 2.67 a per liter of Petrol and Rs. 2.58 per liter of Diesel.
This also means that government hasn’t yet accepted the demands of petroleum companies, who have been requesting the government to raise the price of petrol and diesel for quite some time now and would continue to do so for the foreseeable future i.e. there can be another fuel price hike on the horizon.
New prices will be applicable from midnight tonight.
