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<h1>Government Raises Excise Duty on Fuel by Rs. 3/Litre; Retail Prices Steady as Oil Firms Absorb Costs.</h1> The government increased the excise duty on petrol and diesel by Rs. 3 per litre, aiming to generate an additional Rs. 39,000 crore in revenue. Despite the hike, retail prices remain unchanged as state-owned oil firms offset the increase against the drop in international oil prices. The special excise duty on petrol rose to Rs. 8 per litre and on diesel to Rs. 4 per litre, with road cess increased by Rs. 1 per litre. The total excise duty now stands at Rs. 22.98 per litre for petrol and Rs. 18.83 for diesel. This move addresses fiscal constraints and supports infrastructure development.
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