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Government hikes excise duty on petrol by Rs 10 per litre, diesel by Rs 13 per litre

The hike in duty has taken away gains from falling global crude oil prices.

PTI PTI
New Delhi Updated on: May 06, 2020 0:03 IST
Government hikes excise duty on petrol by Rs 10 per litre, diesel by Rs 13 per litre
Image Source : PTI (FILE)

Government hikes excise duty on petrol by Rs 10 per litre, diesel by Rs 13 per litre

The government on Tuesday night hiked the excise duty on petrol by steep Rs 10 per litre and that on diesel by Rs 13 a litre.

The hike in duty has taken away gains from falling global crude oil prices.

Last month, benchmark Brent crude oil dropped to as low as USD 18.

10 per barrel - the lowest since 1999, as coronavirus wiped away demand, creating large surpluses around the globe.

Prices have since rebounded to around USD 28 a barrel.

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