Centre hikes excise duty of petrol and diesel by Rs 2 per liter

Guwahati: The Central Government has increased the excise duty on petrol and diesel by Rs 2 each effective from Tuesday, an official release from the Finance Ministry stated on Monday.

It stated that the Ministry has raised the excise duty on petrol from Rs 11 per liter to Rs 13 per liter, and on diesel from Rs 8 per liter to Rs 10 per liter, representing a Rs 2 per liter increase for both fuels.

The Finance Ministry has clarified that the Ministry did the revision under Section 5A of the Central Excise Act, 1944, and Section 147 of the Finance Act, 2002.

Further, it stated that the step is necessary in the public interest and will help strengthen the revenue position of the country.

The Ministry in the social media handle X stated that the PSU Oil Marketing Companies have informed that there will be no increase in retail prices of #Petrol and #Diesel, subsequent to the increase effected in Excise Duty Rates today.

Meanwhile, the public has raised concern amidst the hike in petrol and diesel prices expecting the rising freight costs will likely drive up the prices of daily essential items.