The excise duty on petrol was increased to Rs 13 per litre and that on diesel to Rs 10, the order said. | Representational image
Govt hikes excise duty on petrol, diesel by Rs 2/litre; no change in retail prices
While the order did not say what impact it will have on retail prices, industry sources said retail prices are unlikely to be changed
The government on Monday (April 7) hiked excise duty on petrol and diesel by Rs 2 per litre each, according to an official order.
The excise duty on petrol was increased to Rs 13 per litre and that on diesel to Rs 10, the order said.
While the order did not say what impact it will have on retail prices, industry sources said retail prices are unlikely to be changed. The increased excise duty is likely to be adjusted against the cut in petrol and diesel prices that was warranted because of a fall in international oil prices.
However, though fuel prices may not go up, prices of other products are expected to increase as companies pass on the excise rate hike
(With agency inputs)
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