Diesel cars on their way out following proposed pollution tax: Nitin Gadkari
To combat the rising levels of air pollution, Union Transport Minister Nitin Gadkari today suggested a 10% GST increase on…
To combat the rising levels of air pollution, Union Transport Minister Nitin Gadkari today suggested a 10% GST increase on…
With the hike in price, the state government aims to generate Rs 600 crore per annum as revenue, said officials.
The Central government has slashed windfall tax on crude oil production to zero from Rs 3,500 rupees per tonne, which became effective from today, according to an official notification.
A decision to this effect was taken by the Council of Ministers in a meeting chaired by Chief Minister Bhagwant Mann today.
The central has slashed the windfall tax on crude oil from Rs 11,000 to Rs 9,500 per tonne. This change will be applied from November 2 according to an official notification released by the Ministry of Finance.
After rising over three year high level of $80 a barrel earlier this week, global benchmark came down to $78 a barrel and now is again up to $81 a barrel while OPEC+ deciding to stick to its marginal production easing plan and market remaining tight.
In Mumbai, the petrol price is stable at Rs 107.26 per litre, while the diesel rate also remain unchanged at Rs 96.19 a litre.
The concerns on demand due to the pandemic are also affecting oil prices.
Under the pricing formula adopted by oil companies, rates of petrol and diesel are to be reviewed and revised on a daily basis.
After touching the $ 74 a barrel mark last week, benchmark Brent crude is marginally lower now at around $ 72 a barrel.