The Central Government has increased excise duties by ₹ 10 per litre on petrol and ₹ 13 per litre on diesel. The retail sale prices of petrol and diesel will remain unchanged as oil companies will absorb this hike, according to officials in the know.
This excise hike will have no impact on the consumer and the revenue generated from these duties shall be used for infrastructure and other developmental items of expenditure, the officials said.
These higher duty rate changes shall come into effect from May 6, 2020.
Table: Increase in duties
Product | Road and Infra Cess (Rs /ltr) | Special addl excise duty (Rs/Ltr) |
|---|---|---|
Petrol | 8 | 2 |
Diesel | 8 | 5 |