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Excise duty on petrol, diesel raised by ₹2 a litre after 34 months
Business Standard
|April 08, 2025
The Union government on Monday hiked excise duty on both petrol and diesel by ₹2 per litre each after a gap of 34 months but the latest hike will be absorbed by oil marketing companies (OMCs).
On the other hand, in what is seen as a good news for consumers, Petroleum and Natural Gas Minister Hardeep Singh Puri said that retail rates of both the fuels may be slashed going forward if the low international prices hold.
Global crude prices have been in freefall since the unveiling of reciprocal tariffs by the Donald Trump administration in the US.
However, both subsidised and non-subsidised consumers will have to shell out more for domestic Liquefied Petroleum Gas (LPG) cylinders, the price of which was increased by ₹50. The hike applies to both Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries and non-beneficiaries.
This story is from the April 08, 2025 edition of Business Standard.
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