"You can neither quote me or my company on this," he said.47 per litre to take away gains arising from plummeting global oil prices.14. "We have been told not to discuss pricing," said a top official at one of the three state-owned oil marketing firm said.68 per barrel to USD 86.They started moving up immediately after polling for assembly elections in Gujarat concluded on December 14, leading to speculation that government may have asked oil companies to hold on to the prices.Because of the reduction in excise duty, diesel prices had on October 4, 2017, come down to Rs 56.end-ofTags: oil companies, petrol price, diesel priceLocation: India, Delhi, New Delhi. Also, the rupee has weakened to Rs 66.Finance Secretary Hasmukh Adhia had last month and Economic Affairs Secretary Subhash Garg had last week ruled out any immediate reduction in excise duty to cushion the increases warranted from spike in international oil price.93, oil PSUs have since April 24 not changed fuel rates.Oil ministry officials said they don39;t have anything to do with pricing and its up to the companies how they price fuel.

This led to its excise mop up more than doubling to Rs 2,42,000 crore in 2016-17 from Rs 99,000 crore in 2014-15. However, a global rally in crude prices pushed domestic fuel prices far higher than those levels.State-owned oil companies in June last year dumped the 15-year old practice of revising rates on 1st and 16th of every month and instead adopted a dynamic daily price revision to instantly reflect changes in cost.With finance ministry refusing to cut excise duty to give relief to the common man from petrol hitting a 55-month high of Rs 74.63 a litre and diesel at a record high of Rs 65.The BJP-led government had raised excise duty nine times between November 2014 and January 2016 to shore up finances as global oil prices fell, but then cut the tax just once in October last year by Rs 2 a litre.77 a litre and that on diesel by Rs 13.Daily price notification issued by oil firms showed static petrol and diesel price since April 24.56 now, according to sources privy to fuel pricing methodology making imports costlier.

If this practice was followed in letter and spirit petrol and diesel China PVC free foam board screw barrel prices should have been increased by 50-60 paisa a litre in last one week, an analyst tracking the sector said.Daily price notification issued by oil firms showed static petrol and diesel price since April 24.88 per litre in Delhi and diesel Rs 59.The government had in June 2010 freed petrol price from its control and the diesel rates were deregulated in October 2014.The government had between November 2014 and January 2016 raised excise duty on petrol by Rs 11.The benchmark international diesel rates during this period have climbed from USD 84.35.