The government has reduced the import tax import on petrol.
The Ministry of Petroleum Resources Development said that it has been decided to reduce the import tax per litre of petrol from 15 to 5 rupees, with effect from the 10th of this month. The Indian Oil Company and the Ceylon Petroleum Corporation had requested a domestic price hike in view of increasing world fuel prices. The Ministry said the decision to reduce the import tax on petrol had been taken to stabilize the local prices. Consumers will be able to purchase petrol at the prevailing price.