Central govt hikes excise duty on petrol, diesel by ₹2/litre, but prices won't change
Mail This Article
×
Follow Us 
The Central Government on Monday hiked excise duty on petrol and diesel by ₹2 per litre each, according to an official order.
The excise duty on petrol was increased to ₹13 per litre and that on diesel to ₹10, the Ministry of Finance said.
However, the Ministry of Petroleum and Natural Gas said that the hike will not affect the retail prices in the country. The increased excise duty is likely to be adjusted against the cut in petrol and diesel prices that was warranted because of a fall in international oil prices.
Meanwhile, International oil prices continued to decrease, recording a 3 percent fall as escalating trade tensions between the United States and China stoked fears of a recession that would reduce demand for crude.
Add as a preferred source on Google
Disclaimer:
Comments posted here are the sole responsibility of the user and do not reflect the views of Onmanorama. Obscene or offensive remarks against any person, religion, community or nation are punishable under IT rules and may invite legal action.