On April 8, 2025, the government announced an increase in the excise duty on petrol and diesel by ₹2 per liter.
This means that the excise duty on petrol will now be ₹13 per liter, and on diesel, it will be ₹10 per liter.
However, the retail prices of petrol and diesel will remain unchanged, and the public will not feel the impact of this hike.
What Does This Mean for Consumers?
The excise duty hike is a tax imposed by the central government, but despite the increase, the retail prices of petrol and diesel will not rise.
This is because the oil marketing companies have been instructed by the government to absorb the cost, meaning consumers will not face higher prices at the pump.
Key Details:
Excise Duty Increase: ₹2 per liter on both petrol and diesel.
New Rates:
Petrol: ₹13 per liter
Diesel: ₹10 per liter
Retail Prices: Despite the duty hike, retail prices will not be impacted for the public. Oil companies will absorb the additional cost.
Petrol and Diesel Prices in Major Cities:
Delhi:
Petrol: ₹94.72/liter
Diesel: ₹87.62/liter
Mumbai:
Petrol: ₹104.21/liter
Diesel: ₹92.15/liter
Kolkata:
Petrol: ₹103.94/liter
Diesel: ₹91.76/liter
Chennai:
Petrol: ₹100.85/liter
Diesel: ₹92.44/liter
Government Clarification:
The Ministry of Petroleum and Natural Gas clarified that despite the increase in excise duty, the retail prices will not change, and oil companies will bear the increased costs.
This means there will be no additional financial burden on the general public due to this change in the excise duty.
This decision comes amidst other economic shifts, including fluctuations in the stock market, but it aims to shield the public from further price hikes in fuel costs.
