The hike in duty has taken away gains from falling global crude oil prices NEW DELHI : The government on Tuesday night hiked the excise duty on petrol by steep ₹10 per litre and that on diesel by ₹13 a litre.
The hike in duty has taken away gains from falling global crude oil prices. Last month, benchmark Brent crude oil dropped to as low as USD 18.10 per barrel - the lowest since 1999, as coronavirus wiped away demand, creating large surpluses around the globe.
Prices have since rebounded to around USD 28 a barrel. Click here to read the Mint ePaper Livemint.com is now on Telegram. Join Livemint channel in your Telegram and stay updated