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Last Updated : May 06, 2020 12:20 PM IST | Source: Moneycontrol.com

Government hikes excise duty on petrol by Rs 10/litre and diesel by Rs 13/litre

A government official told CNBC-TV18 that the price hike will be absorbed by OMCs.

In order to tackle the economic fallout of the coronavirus outbreak, the government on May 5 hiked excise duty on petrol and diesel by Rs 10 and Rs 13 respectively.

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

These duty rate changes will come into effect from May 6.

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However, the move will not impact consumers.

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A government official told CNBC-TV18 that the price hike will be absorbed by OMCs.

"The MRP of petrol and diesel will continue to remain the same," the official said.

Earlier on May 5, the Aam Aadmi Party-led Delhi government hiked value-added tax (VAT) on petrol and diesel by Rs 1.67 a litre and by Rs 7.10 a litre, respectively.

After the hike, petrol in Delhi is now available for Rs 71.26 a litre while diesel is available for Rs 69.39 a litre.

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First Published on May 5, 2020 11:21 pm
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