The Centre has hiked the Excise Duty on Petrol and Diesel by 2 rupees per litre. The hike in the rate came into effect form last midnight. However retail price of Petrol and Diesel will remain unchanged all over India despite Excise Duty hike.

Petroleum and Natural gas Minister Dharmendra Pradhan tweeted that the Duty was raised to generate revenue for infrastructure development. After this hike the government is likely to garner an additional 6,000 to 7,000 crore rupees of revenue.