No Increase in Petrol and Diesel Retail Prices Despite Excise Duty Hike

The recent excise duty hike on petrol and diesel and how it won't affect retail prices due to adjustments against falling global oil prices.
No Increase in Petrol and Diesel Retail Prices Despite Excise Duty Hike
Petrol and Diesel Retail Prices The Bridge Chronicle
Published on

The Indian government has increased the excise duty on petrol and diesel by ₹2 per litre each, effective from April 8, 2025. However, despite this hike, retail prices of petrol and diesel will remain unchanged, as the increase will be offset by recent reductions in global crude oil prices.

Join TBC's WhatsApp Channel to Stay Updated!

The government aims to enhance its revenue collection amid fluctuating global oil prices and ongoing trade tensions sparked by U.S. tariffs.International crude prices have slumped to their lowest levels since April 2021, driven by fears of a global recession and trade wars.

No Increase in Petrol and Diesel Retail Prices Despite Excise Duty Hike
Petrol and Diesel Price Hike

PSU Oil Marketing Companies have confirmed that there will be no change in retail prices of petrol and diesel, ensuring that consumers are not directly affected by the excise duty hike. The decision reflects the government's strategy to balance revenue needs with consumer interests during a period of economic uncertainty.

The government's decision to raise excise duty without impacting retail prices demonstrates a careful approach to managing fuel costs while securing additional revenue. Global economic conditions continue to evolve, this strategy helps maintain stability in the domestic market.

Join TBC's WhatsApp Channel to Stay Updated!

Help Us Create the Content You Love

Take Survey Now!

Enjoyed reading The Bridge Chronicle?
Your support motivates us to do better. Follow us on Facebook, Instagram, Twitter and Whatsapp to stay updated with the latest stories.
You can also read on the go with our Android and iOS mobile app.

Related Stories

No stories found.
logo
The Bridge Chronicle
www.thebridgechronicle.com