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.