GST on petrol: No cut in tax on fuel
He said that multiple hikes in excise duty by the Centre since 2014 on fuel helped in funding welfare programmes in the country.
By : DC Correspondent
Update: 2017-09-13 19:15 GMT
New Delhi: There seems to be no respite for consumers from sky-rocketing petrol and diesel prices, as oil minister Dharmendra Pradhan on Wednesday ruled out government intervention to disrupt the daily revision in fuel prices despite Rs 7.3 per litre spike in rates since July.
The minister said that petroleum ministry’s analysis shows that daily revision in prices of petrol and diesel (dynamic mechanism) is in the long- term interest of the consumers as it is the most transparent and reassuring methodology.
He said that multiple hikes in excise duty by the Centre since 2014 on fuel helped in funding welfare programmes in the country.