Government of India on Tuesday reduced Basic Excise Duty rate on Petrol and Diesel by Rs 2 per litre.
Excise Duty on Petrol & Diesel
Ahead of the Budget, the government today hiked the excise duty on petrol by Re 1 per litre and Rs 1.50 on diesel, the third increase this month.
The fall in international oil prices had resulted in six consecutive reduction in petrol prices since August and two in diesel in the last one month. The reductions have now been nullified as the the government decided to raise excise duty…