At 69%, India Now Charges Highest Taxes On Petrol, Diesel In The World; Steepest Hike Ever Recorded

The taxes on conventional fuels sold in India is the highest in the whole world – at a whopping 69%. The only other countries that have taxes more than 60% are France, Germany, Italy Britain.

Moreover, the prices in the fuel have increased for the 16th consecutive day in India.

To find out more details about the rising costs of fuels in India, read on.

Indian Has The Highest Taxes, 69%, On Petrol, Diesel In the Worldwide

The prices of petrol diesel in India increased by Rs 13 per liter on diesel and Rs 10 per liter on petrol. This has led to India having the highest taxes on fuels in the entire world, followed by France, Germany, Italy, and Britain. 

As of now, the price of petrol is Rs. 71.26 per liter, which is inclusive of Rs 49.42 as taxes in Delhi. Whereas, the price of diesel is Rs. 69.39 which includes taxes of Rs. 48.09. Till last year, taxes in India made up for 50% of the retail price of both diesel and petrol.

Additionally, the excise duty on petrol has been increased by Rs 2 per liter and Rs 5 per liter respectively. As per reports, this is the steepest ever hike in duties on fuels in the country.

The taxes on fuels in India are at 69.3%, followed by Italy (64%), France (63%), Germany (63%), UK (62%), Spain (53%), Japan (47%), Canada (33%), USA (19%). 

Petrol Diesel Prices Hiked For 16th Consecutive Day

The Coronavirus and the lockdown imposed due to it has resulted in a rise in petrol and diesel prices in India. The prices have been increasing every day and this is the 16th consecutive day when the prices have increased. There has been a hike of Rs. 8.30 per liter for petrol whereas the hike in the prices of diesel is Rs. 9.22 per liter.

As we already know, in Delhi, the cost of petrol is now rupees 79.56 per liter and the cost of diesel is rupees 78.85 per liter. 

The petrol price in Delhi Mumbai Chennai and Kolkata has been raised by 29 to 33 paise and diesel price has been increased by 50 to 58 paise. 

This is the highest increase in the rate since June 7 in any fortnite.