Business

Govt Hikes Excise Duty on Petrol By Rs 1.6 Per Litre, Diesel By 40 Paisa

New Delhi,November 7: On Friday night government hiked excise duty on petrol by Rs1.60 per litre and the same on diesel by 40 paisa a litre.

According to a CBEC notification the basic excise duty on normal petrol was increased from Rs5.46 per litre to Rs7.06 a litre,After including additional and special excise duty, the total levy on petrol will be Rs19.06 per litre as against present levy of Rs17.46.

Similarly on normal diesel, excise duty has been increased from Rs4.26 per litre to Rs4.66 a litre. After including special excise duty, total incidence of excise duty on diesel will be Rs10.66 per litre as against present Rs10.26.

The excise duty on branded petrol has been hiked from Rs6.64 to Rs8.24 per lire and branded diesel, excise duty has been increased from Rs6.62 to Rs7.02 per litre.

The government had previously in four installments raised excise duty on petrol and diesel between November and January to take away the reduction in retail rates that was warranted from falling international oil prices.

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