New Delhi/UNI: In the aftermath of the fall in crude oil prices in the international market, the Government has hiked the excise duty on petrol and diesel by Rs three a litre.
In addition, the government has increased the road cess on petrol by Rs one a litre and diesel by Rs 10 a litre.
According to an official notification issued here, special excise duty on petrol has been raised from Rs two to Rs eight a litre and diesel to Rs four a litre.
The government is looking to mop up gains arising from fall in international oil prices.
Economists say that in normal course the increase in excise duty would have resulted in a hike in petrol and diesel prices, but most of it would be adjusted against the fall in rates due to slump in international oil prices.
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