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Authorities hikes excise obligation on petrol by Rs 10 per litre, diesel by Rs 13 per litre

Government hikes excise duty on petrol by Rs 10 per litre, diesel by Rs 13 per litre
Picture Supply : PTI (FILE)

Authorities hikes excise obligation on petrol by Rs 10 per litre, diesel by Rs 13 per litre

The federal government on Tuesday night time hiked the excise obligation on petrol by steep Rs 10 per litre and that on diesel by Rs 13 a litre.

The hike in obligation has taken away features from falling world crude oil costs.

Final month, benchmark Brent crude oil dropped to as little as USD 18.

10 per barrel – the bottom since 1999, as coronavirus wiped away demand, creating giant surpluses across the globe.

Costs have since rebounded to round USD 28 a barrel.

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