The Centre on Tuesday announced the raising of excise duty of petrol and diesel by Rs 2.25 per litre and Rs 1 per litre respectively, effective from 12 midnight.
According to reports, the latest round of hike in excise duty has been affected to help the government generate funds for itself. However, this hike will not have an effect on consumers.
This move by the government comes close on the heels of the announcement of the slashing of petrol and diesel prices by 91 paise and 84 paise respectively, which came into effect from midnight on November 30.
