Zee Media Bureau
New Delhi: Government on Friday raised the excise duties on petrol and diesel by Rs 2 a litre.
The increase, the fourth since Prime Minister Narendra Modi lifted diesel price controls in October, seeks to cash in on lower world oil prices to bolster strained government finances without stoking inflation.
Meanwhile, a day after oil companies skipped revising petrol and diesel prices despite steep fall in global rates, Petroleum Minister Dharmendra Pradhan today said the state-owned firms will do what is "appropriate".
As per the practice of revising rates every fortnight, state fuel retailers were expected to announce a cut in petrol and diesel prices yesterday as global rates had fallen by about 4 per cent. However, they skipped the revision.
With Agency Inputs
