Good news for oil companies! India cuts windfall tax on crude oil and fuel

Windfall Tax: The government has now greatly aided the oil industry. On the export of domestically produced diesel, aviation turbine fuel (ATF), and crude oil, windfall profit taxes have been reduced. As of today, February 16, the revised rates are in effect.

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The government decree states that organizations like Oil and Natural Gas Corporation (ONGC) would now be required to pay a tax of Rs 4,350 per tonne rather than Rs 5,050 per tonne on the crude oil they extract.

Know what are the new rates

The tariff on crude oil has now been cut from Rs 5050 per tonne to Rs 4350 per tonne. In addition, the tax on diesel exports was lowered from Rs 7.5 per liter to Rs 2.50 and the duty on ATF exports was lowered from Rs 6 to Rs 1.50. However, there is still no additional excise tax on gasoline.

Petrol Diesel Price Today: Petrol-Diesel became expensive again today, know what are the latest oil prices in your city

Major oil companies in the country have released petrol and diesel prices for Saturday, March 26. This is another increase by the oil marketing companies in petrol-diesel prices. In the capital Delhi, one liter of petrol has increased to Rs 98.61 and one liter of diesel has increased to Rs 89.87 due to the increase in oil prices yesterday.

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Fuel costs in Mumbai have increased due to the latest rise in oil prices to Rs 113.35 per liter for petrol and Rs 97.55 for diesel. Diesel and petrol prices in Delhi rose by 80-80 paise per liter while in Mumbai, petrol prices rose by 84 paise per liter and diesel 85 paise per liter.

Petrol and diesel higher by Rs 3.20 in Delhi within four days

The price of gasoline and diesel continues to rise across the country. This week, petrol and diesel prices have increased for the fourth time in a row. Prices have increased by 80-80 paise for 4 consecutive days in Delhi. As a result, diesel and petrol prices in Delhi increased by Rs 3.20 over the past four days.

The price of petrol in Delhi was 95.41 rupees per liter before the increase in oil prices but is now 98.61 rupees per liter due to the increase in oil prices. You can view the latest petrol and diesel prices in your cities by clicking on this link.

The price of crude oil also rose

The price of crude oil, meanwhile, is also rising today. The price of crude oil has reached $ 120.7 per barrel on the international market today. As of Saturday, WTI Crude prices have increased to $113 per barrel after increasing and Brent Crude prices have increased to $120.7 per barrel after increasing.

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