The Central government of India has recently announced an increase in excise duty on petrol and diesel by Rs 2 per litre each, bringing the total excise duty on petrol to Rs 13 per litre and on diesel to Rs 10 per litre. This hike in excise duty is aimed at balancing the decrease in international oil prices and is expected to help maintain retail prices of petrol and diesel in the country. The new excise duty rates came into effect on April 8. This move by the government is likely to help in stabilizing the prices of petrol and diesel in India amidst fluctuations in global oil markets. Stay updated with the latest developments in fuel prices and government policies for a better understanding of the economic landscape in the country.