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Andhra Pradesh CM Asks Centre To Cut Excise Duty In View Of Fuel Hike

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| May 11 , 2018 , 18:28 IST

As the petrol prices surpass a 55-month high price and diesel prices at a record level as well, Andhra Pradesh Chief Minister N Chandrababu Naidu has asked Central government to cut excise duty on the fuels to ease the burden on people.

In a letter to Oil Minister Dharmendra Pradhan, Naidu said the Centre had between November 2014 and January 2016 hiked excise duty on petrol and diesel nine times to take away gains arising from a slump in global oil prices. But when rates started moving up, it reduced tax by just Rs 2 a litre in October last.

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 “Petrol and diesel in India are priced Rs 16.35 and Rs 15.15 higher on an average than that of our neighbouring countries which are also dependent on imports, I request you to take immediate necessary steps to reduce the prices of petrol and diesel," he wrote.

He added, “I request you to take immediate necessary steps to reduce the prices of petrol and diesel, The excise duty on petrol was Rs 9.48 in June 2014 (and) reached a peak of Rs 21.48 in March 2016 and is now hovering at Rs 19.48 since October 2017.”

Petrol at Rs 74.63 a litre is highest in 55 months while diesel at Rs 65.93 is at a record high.