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Diesel And Petrol Prices Record Highest Since 2014

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It is  an alarming call for the government to cut excise rates as petrol price hit Rs. 73.73 a litre which is highest since September 2014 while diesel rates reaches its highest value ever of Rs 64.58.

 

Jaitley had raised excise duty nine times between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs 2 a litre.

 

State-owned oil companies in June last year adopted a daily price revision system to show any immediate change in price.Since then, prices are revised on a daily basis.

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