Please Tell Us Your City

Knowing your city will help us provide relevant content to you.

Sorry! No matching results found. Try again.Error Identifying Your Location.

We won't support this browser soon. For a better experience, we recommend using another browser. Learn More

Ad

Government hikes excise duty on petrol and diesel

December 02, 2014, 03:18 PM IST by Pratheek Kunder
Government hikes excise duty on petrol and diesel

Government has hiked the excise duty on petrol by Rs 2.25 per litre and diesel by Rs 1 per litre. This decision was taken after the decline of crude oil price in the international market. The price hike will be affective from December 3.

This move will boost the Government’s revenue and will also reduce the country’s fiscal deficit by a great margin. With this hike, the government is expected to get around Rs 4,000 crore in its kitty. However, the good news is that the consumers will be spared from this hike. 

This is the second hike in excise duty in three weeks. A fortnight ago, the government had raised the excise duty by Rs 1.50 per litre on both petrol and diesel but that did not have any impact on the retail prices. Just yesterday, the oil marketing companies reduced the petrol and diesel price by Rs 90 paise a litre and 84 paise a litre respectively. We can expect the oil marketing companies to cut the petrol and diesel price again after a fortnight, if the international rate continues to go down. 

 
  • FaceBook Logo
  • Twitter Logo
  • Email Logo
Show CommentsHide Comments
bell icon
Never miss an update
Receive latest updates from CarWale
Ad
  • Upcoming Cars

Tata Nexon EVTata Nexon EV

28th Jan 2020

15L - ₹ 17L
Mercedes-Benz GLE NewMercedes-Benz GLE New

29th Jan 2020

65L - ₹ 80L
Land Rover New Range Rover EvoqueLand Rover New Range Rover Evoque

30th Jan 2020

53L - ₹ 70L
Lexus LC 500hLexus LC 500h

31st Jan 2020

1.60Cr - ₹ 2Cr
Kia CarnivalKia Carnival

5th Feb 2020

25L - ₹ 27L
All Upcoming Cars
Buying a new Car?Ask the experts1800 2090 230(Toll free)
Ad*T&C Apply
Presenting

TATA ALTROZ

Starts at ₹5.29 Lakh*

Explore More

Select your city to avail offers

Currently available only in