In a move aimed at bolstering revenue, the government on Monday announced an increase in excise duty on both petrol and diesel by ₹2 per litre, effective April 8, 2025. The decision comes against the backdrop of ongoing volatility in global oil markets and the added strain of tariffs imposed by the Trump administration.
While the official order did not elaborate on the immediate impact on retail fuel prices, the Ministry of Petroleum and Natural Gas clarified that the hike would not affect end consumers. Despite global crude oil prices dropping to their lowest levels since April 2021, domestic fuel prices will remain unchanged.
This measure reflects the government’s strategy to strengthen its fiscal position by leveraging international market conditions, ensuring that consumers are shielded from price fluctuations while enhancing Union revenue collections.
PSU Oil Marketing Companies have informed that there will be no increase in retail prices of #Petrol and #Diesel, subsequent to the increase effected in Excise Duty Rates today.#MoPNG
— Ministry of Petroleum and Natural Gas #MoPNG (@PetroleumMin) April 7, 2025