Economy

Centre hikes excise duty on petrol and diesel

Our Bureau New Delhi | Updated on May 05, 2020

Centre hikes excise duty on petrol and diesel

Petrol and diesel prices to remain unchanged after excise duty hike

The Central Government has increased excise duties by ₹ 10 per litre on petrol and ₹ 13 per litre on diesel. The retail sale prices of petrol and diesel will remain unchanged as oil companies will absorb this hike, according to officials in the know.

This excise hike will have no impact on the consumer and the revenue generated from these duties shall be used for infrastructure and other developmental item of expenditure, the officials said.

These higher duty rate changes shall come into effect from May 6, 2020.

Product

Road and Infra Cess

(Rs /ltr)

Special addl excise duty (Rs/Ltr)

Petrol

8

2

Diesel

8

5

 

Published on May 05, 2020

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