New Delhi: The government has again raised the excise duty on petrol and diesel by Rs 2.25 and Rs 1 a litre respectively, but consumers will be spared of the price hike.
With this, the duty on petrol is Rs 4.95 and diesel is RS 3.96 a litre.
Last month, the excise duty on normal or unbranded petrol was hiked from Rs 1.20 per litre to Rs 2.70 per litre and on unbranded diesel from Rs 1.46 a litre to Rs 2.96.
The duty on branded petrol was raised from Rs 2.35 a litre to Rs 3.85 and on branded diesel from Rs 3.75 to Rs 5.25 per litre.
In view of the declining prices of crude, oil marketing companies had on Monday cut petrol price by 91 paise a litre, the seventh reduction since August, and diesel by 84 paise per litre, the third straight cut.
Latest Business News
