Oil Minister Dharmendra Pradhan on Wednesday ruled out any cut in excise duty, for now, to give relief to consumers from the spiralling retail prices of petrol and diesel which have touched all-time highs.
“There is no such proposal at present,” he said in the Rajya Sabha when asked if the government was looking at cutting taxes to cool off prices.
Petrol price crossed the ₹94-mark in Mumbai and diesel soared to ₹84.63 per litre on Wednesday. Retail pump rates have not seen a reduction in almost 11 months.
