New Delhi: Another step has been taken by the government to control the rising price of oil in the country. Yes, and on behalf of the central government, the windfall profit tax on the export of diesel was increased to Rs 7 per litre on Thursday. At the same time, the tax on aviation turbine fuel (ATF) has been reimposed at Rs 2 per litre, although the government has reduced the tax on domestically produced crude oil. At the same time, the government has increased the tax on the export of diesel from Rs 5 to Rs 7 per litre in the third-fortnight review of the windfall benefit tax. At the same time, a tax of Rs 2 per litre has been imposed on ATF once again.
Last month, the government abolished the windfall gains tax (levy) on ATF exports. Besides, the tax on domestically produced crude oil has been reduced from Rs 17,000 per tonne to Rs 13,000 per tonne. At the same time, this decision was taken by the government because the profit from crude oil refining had increased. However, due to the fall in the international price of oil during the last six months, the tax on domestically produced oil was reduced.
On the other hand, crude oil prices in the international market are running at a low level of six months. With this, prices saw a slight increase on Friday morning and WTI crude rates were seen at the level of $ 90.74 per barrel. Apart from this, brent crude reached $ 96.77 per barrel. At the same time, the rates of petrol and diesel in the domestic market can come down in the coming days.
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