NEW DELHI: The central government has raised excise duty by Rs 2 per litre for both petrol and diesel. With this, the prices of petrol and diesel are likely to increase in the country. Reports said the decision has been taken in view of the continuous fluctuations in global oil prices and Trump's tariffs.

Though the excise taxes had been increased, retail prices are unlikely to rise, due to a fall in global oil prices.

The revised excise duty will come into effect on April 8. The excise duty on petrol was increased to Rs 13 per litre and that on diesel to Rs 10. However, the ministry of petroleum said that the retail prices will not be affected by the hike.

PSU Oil Marketing Companies have informed that there will be no increase in retail prices of petrol and diesel, subsequent to the increase effected in excise duty rates today," ministry of petroleum & natural gas wrote on X.