Govt hikes excise duty on petrol and diesel by Rs 3 per litre

india

Updated: Mar 14, 2020 10:12 IST

The government on Saturday increased excise duty on petrol and diesel by Rs 3 per litre as it looked to mop up gains arising from fall in international oil prices.

The special excise duty on petrol was hiked by Rs 2 to Rs 8 per litre in case of petrol and to Rs 4 in case of diesel, an official notification said.

Road cess on petrol was also raised by Rs 1 per litre each on petrol and diesel to Rs 10.

The increase in excise duty would normally lead to a hike in oil prices.

However, most of it would be adjusted against the fall in rates that would have necessitated because of the slump in international oil prices.

(With agency inputs)