The remarks came after the comments from India's Oil Secretary, Pankaj Jain, suggesting a price drop last month and media reports indicating that Maharashtra's state elections are expected in early November.
Union Minister of Road Transport and Highways Nitin Gadkari on Monday clarified that he is not against providing incentives for any particular fuel technology.
To combat the rising levels of air pollution, Union Transport Minister Nitin Gadkari today suggested a 10% GST increase on…
With the hike in price, the state government aims to generate Rs 600 crore per annum as revenue, said officials.
The Central government has slashed windfall tax on crude oil production to zero from Rs 3,500 rupees per tonne, which became effective from today, according to an official notification.
If the leadership chooses to increase the price, the per-litre diesel cost will jump to Rs 204.69.
In 2020, during the COVID outbreak, the event suddenly draws Crude & Brent oil prices. The crude oil (WTI) starts falling from $65/barrel to $19/barrel.
Till Tuesday, fuel prices were steady since early November when the Centre reduced excise duty on petrol and diesel by Rs 5 and Rs 10 per litre, respectively.
Accordingly, the increase in selling price, which includes state levies, central excise and cess amongst other factors, came days after an astronomical rise in crude oil prices due to the Russia-Ukraine war.
Across the country as well, the price of the fuel remained unchanged on Wednesday, but the retail rates varied depending on the level of local level taxes.
