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Saturday, November 11, 2023

Central Government Increases Excise Duty On Petrol By 10 And Diesel By Rs 13 per liter

The Central government on Tuesday night expanded the excise duty on petrol by Rs 10 for every liter and extracted obligation on diesel by Rs 13 for each liter. After this expansion in the extract, individuals won’t have the option to get any profit by the discounted costs of raw petroleum in the global market. A month ago, Brent crude oil value hit a low of $ 18.10 per barrel because of an absence of interest because of Corona infection disease. This was the most economical price since 1999. However, after that, there was a slight increase in prices, and it reached $ 28 per barrel

The Delhi government has also increased VAT.

 The Delhi government increased VAT on petrol diesel. VAT on petrol increased from 27% to 30%. VAT on diesel rise from 16.75% to 30%. That is, today, petrol in Delhi became expensive by ₹ 1.67 and diesel by ₹ 7.10. Petrol will be available at ₹ 71.26 / liter on Tuesday and diesel at ₹ 69.39 / liter on Tuesday.

 However, the decision of the Delhi government will directly affect the public.

Let us know that during April, a massive decline in fuel demand was recorded in the country. Fuel demand fell by nearly 70 percent due to the stoppage of economic activity and shutdown of traffic due to the nationwide lockdown.

 However, the need for LPG increased by 12 percent during this period. The petroleum industry says that there are signs of increasing demand during the last ten days.

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