The government has halved windfall gains tax on export of petrol to Rs 1.5 litre, while reducing the levy on diesel to Rs 13.5/litre and aviation turbine fuel to Rs 9.5/litre effective June 1.
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The government on Thursday said there was no shortage of petrol, diesel, kerosene or aviation turbine fuel in India after the Opposition criticised it over the handling of the fallout of the West Asia crisis by citing instances of scarcity and panic buying across the country.
Petrol and diesel prices have been increased by 76 paise per litre from today. This hike has come after 137 days.