Centre can cut excise duty on petrol, diesel by Rs 8.5 a litre without hurting revenues, say experts
Central and state taxes make up for 60 percent of the retail selling price of petrol, available at Rs 91.17 per litre in Delhi and over 54 percent of diesel which is available for Rs 81.47 in the National Capital
This is the 15th increase in rates since 20 November, when oil companies resumed daily price revision after nearly two-month hiatus
Just 4 states and one union territory have cut local sales tax or VAT on petrol and diesel since the October 2017 decision of the Centre to reduce excise duty on the two fuels, Oil Minister Dharmendra Pradhan said on Monday
Petrol price was today marginally hiked by 5 paise a litre and diesel by Rs 1.26 a litre, the fourth increase in rates in six weeks.