Centre increases excise duty on petrol, diesel by Rs 3 per litre
By Newsmeter Network Published on 14 March 2020 6:19 AM GMT
Hyderabad: The central government on Saturday increased the excise duty on petrol and diesel by Rs.3 per litre.
The hike will generate additional revenue for the government at a time when the economy is suffering due to the coronavirus pandemic.
The excise duty has been increased from Rs.15.83 to Rs.18.83 per litre of diesel. For petrol, the excise duty has been increased from Rs.19.98 per litre to Rs.22.98 per litre.
On Saturday, petrol was sold at Rs.74.11 per litre and diesel Rs.67.99 per litre.
According to an official notification, the road cess on petrol and diesel was also raised by Rs.1 and Rs. 10 per litre respectively.
The increase in excise duty will not impact the fuel rates since the crude oil prices are dropping because of coronavirus scare.
Experts said due to the increase in the excise duty, the benefits of decreasing crude oil prices will not be passed on to the customers.
It is, however, to be noted that petrol prices have almost fallen by Rs.6 since January.
