Excise Duty Hiked on Petrol and Diesel
Central Government of India announced an increase in excise duties on petrol and diesel by ₹2 per litre each. According to a notification by the Revenue Department under the Ministry of Finance, the new excise duty on petrol is now ₹13/litre and ₹10/litre on diesel. Despite the duty hike, the Ministry of Petroleum and Natural Gas has confirmed that there will be no change in retail prices, as public sector oil marketing companies (OMCs) will absorb the increase. The change comes against the backdrop of global oil price fluctuations, triggered by the US’s tariff policies and increased output by OPEC+.
| Summary/Static | Details |
| Why in the news? | Excise Duty Hiked on Petrol and Diesel |
| Excise Duty on Petrol | Increased by ₹2 to ₹13/litre |
| Excise Duty on Diesel | Increased by ₹2 to ₹10/litre |
| Retail Price Impact | No change; OMCs will absorb the cost |
| Government Ministry | Ministry of Finance (Revenue Dept.) and Ministry of Petroleum |
| Announcement | Medium Official notification and post on X (formerly Twitter) |
| Global Crude Trends | Prices falling due to US trade war and OPEC+ output hike |
| OPEC+ Output Plan | Increase to 411,000 barrels/day from May 2025 |
| US Tariff Impact | 34% tariffs fueling concerns of reduced demand |
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