New Delhi: Oil Minister Dharmendra Pradhan on Thursday remained non-committal on cutting excise duty on petrol and diesel, which have touched record highs, saying merely that the government is keeping a close watch on the situation.
Petrol price rose to ?71.56 per litre in Delhi on Thursday, the highest since August 2014. Rates in Mumbai are almost touching ?80.
Diesel prices soared to their highest level of ?62.25 per litre in Delhi. It is being sold at ?66.30 in Mumbai, where the local sales tax or VAT rates are higher.
At an industry event, replying to reporters’ questions on rising fuel prices, Mr. Pradhan said the Centre had in October cut excise duty on petrol and diesel by ?2 per litre.
Some States had followed it by reducing VAT. “Some others are yet to do that. I would urge States to reduce taxes,” he said.
Asked if the Centre would cut excise duty, he said, “We are keeping a close watch on the pricing situation.”
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