Excise Duty on Petrol, Diesel raised

New Delhi: The excise duty on Petrol and Diesel was raised by the government on Saturday by Rs 0.37 per litre and by Rs 2 a litre respectively.

The hike in excise duty will fetch the government over Rs 4,300 crore on diesel and about Rs 80 crore on petrol.

“The increase in excise duty on petrol by 37 paise and on diesel by Rs 2 per litre will not result in any increase in the current price,” Revenue Secretary Hasmukh Adhia tweeted.

On December 15, Indian Oil Corporation (IOC) had cut petrol prices by Rs. 0.50 per litre and diesel by Rs. 0.46 per litre.(ANI)