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Govt hikes excise duty on petrol by Rs 10/L, diesel by Rs 13/L
PTI, May 6, 2020, 8:06 AM IST
New Delhi: 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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