petrol price will be decreased from 15 June, on this Friday (June 14) government of India decreased the windfall profit tax on crude petroleum which produced in the country.
Windfall tax is a higher tax imposed by the government on specific industries when they experience unexpected and above average profit. when government notices a sudden increase in an industry’s revenue, they impose this tax.
the tax has been revised from domestically produced crude petroleum reduced to ₹3,250 from ₹5,200 per ton,
source: CNBC TV 18