Govt raises excise duty on petrol, diesel to shore up revenue; Pump prices unaffected, LPG up Rs 50/cylinder
The government increased excise duty on petrol and diesel by Rs 2 per litre, capitalizing on lower international oil prices to bolster revenue. While pump prices remain unchanged, LPG prices will rise by Rs 50 per cylinder. This duty hike aims to generate Rs 32,000 crore annually, offsetting oil companies' LPG losses, though the timing of reimbursement remains uncertain.