Excise Duty On Petrol & Diesel Increased By ₹2 Per Litre; Retail Prices Remain Unchanged

The Excise duty on petrol and diesel has been increased by ₹2 per litre, but there will be no increase in retail prices. This indicates that the oil marketing companies (OMCs) will absorb the hike in excise duty. This move by the government and the OMCs aims to maintain price stability for consumers despite the increase in excise duty. The impact on the financial health of the OMCs will be a key aspect to monitor.