Excise duty on petrol hiked by Rs 1 per litre, diesel by Rs 1.50, 4th hike in over one month


The central government on Saturday evening announced it was hiking excise duty on petrol by Rs 1 per litre and on diesel by Rs 1.50.

Basic excise duty on unbranded or normal petrol has been increased from Rs 8.48 per litre to Rs 9.48 and the same on unbranded diesel from Rs 9.83 to Rs 11.33, a notification of the Central Board of Excise and Customs (CBEC) said.

This comes less than a fortnight after the Narendra Modi government announced it was had hiked excise duty on petrol and diesel by 75 paise and Rs 1.83 per litre respectively.

Indian government was slammed for playing a cruel joke on consumers by first announcing cuts in retail prices of petrol and diesel before hiking excise duty in petroleum products two hours later.

This despite the crude oil prices slumping to 12-year low of under USD 30 per barrel in international market.

This is the fourth time in little over a month that government has hiked excise duty on diesel and petrol.

The government had on 17 December raised excise duty on petrol by 30 paise and that on diesel by Rs 1.17 per litre.

This was followed by a 37 paise increase in the levy on petrol from 3 January and Rs 2 per litre on diesel.