After six consecutive cuts in petrol prices and two in diesel, the NDA Govt on ThursdayNov 13,2014 hiked the excise duty on petrol and diesel by
Rs.1.50 per litre each.
The hike is not expected to burden consumers as oil companies plan to adjust the excise hike with a reduction in retail rates that was due this weekend. “As of now oil companies will be absorbing the hikes...we won’t be passing these on to the consumers,” Indian Oil Corporation spokesperson Siddharth Mukherjee told
The Details of the hike are
Unbranded Branded
Petrol Rs1.20 to Rs 1.70 Rs 2.35 to Rs 3.85
Diesel Rs 1.46 to Rs 2.96 Rs 3.75 to Rs 5.25
The hike is not expected to burden consumers as oil companies plan to adjust the excise hike with a reduction in retail rates that was due this weekend. “As of now oil companies will be absorbing the hikes...we won’t be passing these on to the consumers,” Indian Oil Corporation spokesperson Siddharth Mukherjee told
The Details of the hike are
Unbranded Branded
Petrol Rs1.20 to Rs 1.70 Rs 2.35 to Rs 3.85
Diesel Rs 1.46 to Rs 2.96 Rs 3.75 to Rs 5.25
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