Fuel price to go up, thanks to Budget

Consumers will feel the pinch as petrol and diesel prices are being hiked by up to ₹2.70 a litre from midnight.

This follows the Budget 2019-2020 move to hike special additional excise duty as well as road and infrastructure cess by a rupee each per litre on both products.

Finance Minister Nirmala Sitharaman has decided to take advantage of the softening crude prices. I propose to increase Special Additional Excise duty and Road and Infrastructure Cess each by one rupee a litre on petrol and diesel,” she said in her Budget speech.

She also said that the petroleum crude duty is proposed to be hiked from nil to ₹1 a tonne.