Petrol, diesel price hiked in India while international crude price is low

NEW DELHI: On the base of per the instruction by Prime Minister Narendra Modi, the National Council of Educational Research and Training (NCERT) is ready to make updates, additions and corrections after long period in all 182 of its textbooks just its opposite, The price of petrol and diesel have hiked enough these day. The price of a barrel of crude oil in June 2014 was 115 USD (Rs 6330) which at the present, its price is around 50-55 (3368.39) USD per barrel. Since 2014 the price of petrol and diesel in India have been increased nine times as a result of increase in excise duties. In 2014 the excise duty on petrol was Rs 9.20 which in 2017 stands at Rs 21.48. Similarly the excise duty on diesel was at Rs 3.46 in November 2014 which have been increased to Rs 17.33 as on January 2017. Since June 16, dynamic pricing has been implemented and every morning the prices of petrol and diesel are revised at 6 AM. As per government figures excise duty on diesel and petrol have registered an overall increase by 380 per cent and 120 per cent respectively. The petrol price in Mumbai and Delhi till 17 september 2017, was at Rs 79.62 and Rs  70.51 per litre respectively. As the same,  diesel price in Mumbai and Delhi was Rs 62.55 and 58.88 per litre respectively. It should be noted that around 75-80 per cent of the difference in the prices goes to the government exchequer and only the remaining balance is transferred to the consumer.