New Delhi, April 7 -- The government on Monday hiked excise duty by Rs 2 each on diesel and petrol but it will have no impact on retail prices for consumers.
The increase in excise duty was announced even as global crude prices remained in downward spiral touching $60 a barrel.
"PSU Oil Marketing Companies have informed that there will no increase in retail prices of petrol and diesel, subsequent to the increase effected in Excise Duty Rates today," Ministry of Petroleum and Natural Gas said in a post on social media "X".
The excise duty has been hiked in case of Petrol to Rs 13 a litre and Diesel Rs 10 a litre, according to an official notification by the Department of Revenue, Ministry of Finance, dated April 7, 2025.
Annual average r...