New Delhi:In a bid to mobilize revenue collection, the government, late on Tuesday, increased the excise duty on petrol by Rs 10 and on diesel by Rs 13.
The increase in excise duty on both fuels will not affect the retail prices of petrol and diesel as the price hike will be absorbed by Oil Marketing Companies.
The government's move comes at a time when global crude oil prices are at extremely low level, as demand from oil producing countries has drastically fallen due to pandemic novel coronavirus.
Presently the excise duty on petrol in the country is Rs 22.98 per liter while on diesel is Rs 18.83 per liter.(UNI)