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

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


Mangalore Today News Network

New Delhi, March 14, 2020:   Excise duty on petrol and diesel was on Saturday hiked by Rs 3 per litre as the government looked to mop up gains arising from fall in international oil prices.

 

Petrol14march2020


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.
Additionally, road cess on petrol was raised by Rs 1 per litre each on petrol and diesel to Rs 10.

One litre of petrol in Delhi costs Rs 69.87 while diesel is priced at Rs 62.58 per litre. The price of petrol and diesel has already fallen by more than Rs 6 since January.

The increase in excise duty would in normal course result in a hike in petrol and diesel prices but most of it would be adjusted against the fall in rates that would have necessitated because of the slump in international oil prices.


Courtesy:Zee News


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