Petrol prices may go down by up to five rupees per liter

New Delhi : Customers can soon get a relief in petrol prices that have reached record levels. The Petroleum Ministry has recommended the government to give relief on petrol and diesel prices by cutting excise duty.

According to the ministry, if the excise duty on petrol diesel increased by 50 percent in the corona era, petrol prices can come down to Rs 5 per liter.

During the lockdown, the government had increased excise duty on petrol by Rs 10. The ministry said that if the excise duty is cut, the states will also have to cooperate to provide full benefits to the consumers.

They will have to agree with the Center to cut VAT. The ministry says that apart from reduction in excise duty, VAT can be reduced and some burden can also be taken from the oil companies.

OPEC countries’ decision to cut crude production is leading to a sharp rise in crude oil prices in the global market. For this reason, domestic oil marketing companies have also started raising petrol diesel prices after 29 days.

52 rupees tax on petrol of 26 rupees
The actual price of petrol, which consumers get at the petrol pump in Delhi at Rs 84.20 per liter, is just 26 per cent. The central government charges 125 per cent of this base price i.e. Rs 32.98 and Rs 19 as tax. The remaining Rs 6.22 per liter is the profit of dealers and companies.

69 percent people want a cut on excise duty on petrol, diesel : survey
About 69 percent people want a cut in excise on petrol and diesel. Vehicle fuel prices in the country are currently at record highs. In such a situation, people believe that the government should reduce the excise duty on vehicle fuel.

Central Excise is a major part of fuel prices. According to a survey by the community social media platform Local Circles, the economy is sluggish due to the Covid-19 epidemic. People’s income has also been affected by this. In such a situation, people can get great relief from the decrease in the price of vehicle fuel.