NDA Govt Hikes Excise Duty on Petrol,Diesel by Rs1.50 per litre Thursday Nov 13,2014

After six consecutive cuts in petrol prices and two in diesel, the NDA Govt on ThursdayNov 13,2014 hiked the excise duty on petrol and diesel by Rs.1.50 per litre each.

The hike is not expected to burden consumers as oil companies plan to adjust the excise hike with a reduction in retail rates that was due this weekend. “As of now oil companies will be absorbing the hikes...we won’t be passing these on to the consumers,” Indian Oil Corporation spokesperson Siddharth Mukherjee told

The Details of the hike are
                                  
                                        Unbranded                            Branded
Petrol                               Rs1.20 to Rs 1.70                 Rs 2.35 to Rs 3.85
Diesel                               Rs 1.46 to Rs 2.96               Rs 3.75 to Rs 5.25