Excise duty on Petrol and Diesel rise by 2 Rs.

Excise duty on Petrol and Diesel rise by 2 Rs.

The increase occurs during a time of declining global crude oil prices due to uncertainty regarding potential retaliatory tariffs from the US government in the escalating global trade issues. Petrol and diesel prices in India will go up because the government announced an excise duty hike of Rs 2 per litre on both fuels.

The increase occurs at a moment where global crude oil prices…. The government is expecting the new prices to affect consumers who are already under the pressures of inflation; however, the timing of this adjustment could indicate the government looking for more revenue.

The timing of this change is concerning for consumers especially given the uncertainty tied to Donald Trump’s tariffs and higher fuel prices will cause inflation of household budgets and create escalated transportation and commodity costs. According to the notification of the finance ministry, it will begin on April 8th, 2025. As of now, the government via the petroleum ministry stated “PSU Oil Marketing Companies have via increased excise duty notify there will be no increase in retail prices of petrol and diesel on daily basis after the adjustment”