Government Raises Excise Duty on Petrol and Diesel by Rs 2/Litre; Retail Prices Unchanged
New Delhi, Apr 7: The government has increased the excise duty on both petrol and diesel by Rs 2 per litre, as stated in an official notification released on Monday.
With this revision, the excise duty on petrol now stands at Rs 13 per litre, while diesel’s duty has risen to Rs 10 per litre.
Although the notification does not explicitly mention any changes to retail prices, industry experts suggest that there will likely be no hike for consumers. The higher excise duty is expected to be offset by the reduction in fuel prices that would have otherwise occurred due to declining global oil prices. – (PTI)
