Indian government on Monday hiked the excise duty on petrol and diesel. The authorities increased the duty on both petrol and diesel by Rs 2 per litre. The announcement was made by the Finance Ministry on Monday via an official notification.
The move comes as the economy deals with the aftermath of US President Donald Trump’s staggering tariffs. Global developments have also resulted in major fluctuations in oil prices. Further, the revision in the duties will come into effect on April 8, 2025.
Will Petrol, Diesel Become Costlier Now?
However, the authorities have clarified that this decision will not impact the wallets of customers.
In a post on social media platform X, the Ministry of Petroleum and Natural Gas clarified that it will not be passing on the increase in duties on the fuels to the public. “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,” the post said.
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
(This is a developing story)
