Zee Media Bureau
New Delhi: The government on Thursday hiked the excise duty on petrol and diesel by Rs 2 per litre. The increased rates of basic excise duty will be effective from midnight.
Retail price of petrol and diesel will remain unchanged allover India despite additional excise duty from midnight, said Petroleum Minister Dharmendra Pradhan, as per ANI.
Earlier, the government had raised the excise duty in two tranches on November 12 2014 and December 2 2014 in view of the decline in prices of crude oil in the international market.
The government had hiked excise duty by Rs 1.50 a litre on both the fuels on November 12. Later, on December 2, the duty on petrol was hiked by Rs 2.25 per litre and on diesel by Re 1 a litre.
Petrol and diesel prices were last cut each by Rs 2 a litre on December 15 last, and prior to that on December 1 by 91 paise and 84 paise respectively.
