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The government on Tuesday raised factory gate duties on petrol by Rs 2.25 a litre and on diesel by Re 1 per litre with immediate effect, the finance ministry said in a statement to Parliament.
Retail prices would not be affected by the hike, said government sources.
Retail prices would not be affected by the hike, said government sources.
The increases, which follow similar hikes in mid-November, seek to take advantage of a slump in world oil prices to shore up government revenues without stoking inflation.
A source familiar with the matter said the latest measures were expected to raise an additional Rs 4,000 crore ($650 million) in the remainder of the financial year to end on March 31, 2015.
