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Petrol rate hits fresh high.

New Delhi: Petrol rate hit fresh 4-year high of Rs 73.95 a litre while diesel rates touched an all-time high of Rs 64.82.

The increase has again stoked fresh demands for the government to cut excise tax rates. However, the government has ruled out any immediate reduction in excise duty to cushion relentless rise in international oil prices that have sent retail diesel rates in India to record high and petrol to four-year high. Asked if a second round of excise duty cut was in offing, Finance Secretary Hasmukh Adhia told PTI, "Not as of now. Whenever we review it, we will let you know".

Petrol in the national capital now costs Rs 73.95 a litre, the highest since September 14, 2014 when rates had hit Rs 76.06. Diesel price at Rs 64.69 is the highest ever, with previous high of Rs 64.82 being on February 7, 2018. State-owned oil firms, which have been since June last year revising auto fuel prices daily, today raised petrol prices by 12 paise and diesel rates by 13 paise per litre each in Delhi, as per an Indian Oil price notification.

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Publication:Daily the Pak Banker (Lahore, Pakistan)
Geographic Code:9INDI
Date:Apr 8, 2018
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