Govt Hikes Excise Duty On Petrol, Diesel By Rs 3 Per Litre

by GoNews Desk 3 weeks ago Views 2122
Govt Hikes Excise Duty On Petrol, Diesel By Rs 3 P
The common person, already grappling with inflation, is about to get another huge jolt. On Saturday, the Central government increased the excise duty on petrol and diesel by Rs 3 per litre. The Central government has also issued a notification on the hike in the excise duty.

It is evident from the hike of Rs 3 a litre on excise duty on petrol and diesel that oil companies will pass on this burden to the common person and the price of petrol and diesel will increase soon.

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The government has made this decision of hiking the excise duty to take advantage of the decline in prices of crude oil in the overseas market. Following this decision of the government, the prices of petrol and diesel across the country could increase by Rs 3 per litre.

Currently, one litre petrol costs Rs 69.87 and one litre diesel costs Rs 62.58 in Delhi.

Due to the coronavirus, the price of crude oil has fallen to its lowest level in 20 years. However, despite lowering prices of petrol and diesel, the government has increased the excise duty by Rs 3.