News Nation Logo

Excise duty on petrol, diesel hiked; no change in retail price

The government today raised excise duty on petrol and diesel by Rs 2 per litre each but retail pump rates will not be increased. The third excise duty hike since November will help raise additional Rs 6,000 crore during remaining three months of the current fiscal as the government took advantage of a slump in global oil prices to five-year low to shore up revenue without stoking inflation.

Updated : 01 January 2015, 09:03 PM

Videos