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Excise Duties on Diesel, Petrol Rises

The hike seeks to take advantage of a slump in global crude oil prices to shore up government revenues without stoking inflation.

Published: 16th December 2015 12:50 PM  |   Last Updated: 16th December 2015 12:50 PM   |  A+A-

2015-12-16T062648Z_1_LYNXMPEBBF0BX_RTROPTP_3_INDIA

Fuel pumps are seen at a Bharat Petroleum gas station in Mumbai January 12, 2015. | Reuters

NEW DELHI: India on Wednesday raised excise duty on diesel by 1.17 rupees ($0.0175) per litre and on petrol by 30 paise per litre, local media reported.

The hike seeks to take advantage of a slump in global crude oil prices to shore up government revenues without stoking inflation.

Television channel CNBC-TV18 reported quoting Finance Minister Arun Jaitley that the latest increase will help collect 25 billion rupees.

Earlier, state-run Indian Oil Corp has decreased the price of diesel by about 1 percent and that of petrol by 0.8 percent, reflecting changes in global fuel prices.



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