Petrol & Diesel Prices: According to a Department of Revenue statement, the national government increased the excise taxes on gasoline and diesel by Rs 2 per litre, with effect from Tuesday. At the moment, the government levies an excise tax on petrol of Rs 19.90 per litre. It will be raised to Rs 21.90 per litre on Tuesday.

In a similar vein, the diesel excise tax, which is currently Rs 15.80 per liter, will rise to Rs 17.80 per litre from Tuesday. Although it hasn’t been revealed yet, it is anticipated that the oil corporations will absorb the increase in excise duty instead of passing it on to customers.

Every Drop Counts-Especially with a ₹2 Hike:

In Delhi, diesel is sold for Rs 87.67 per litre, while petrol is offered for Rs 94.77 per litre. Oil marketing companies’ (OMCs’) profits have increased as a result of the recent softening of crude prices, which went from over USD 70 per barrel to USD 63 per barrel on Monday. The government may have increased the excise taxes on gasoline and diesel as a result of the sharp drop in oil prices.

Take A Look At The Tweet:

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

Union minister Hardeep Singh Puri stated during a press briefing that there would be “no hike in fuel prices right now.” For the record, let me state up front that the customer will not be notified of this.  “Please keep in mind that our oil marketing companies carry inventories over a 45-day period,” he added, adding adding that the global price of crude has dropped to about $60 per barrel.

Also Read: LPG Prices to Rise by ₹50 Starting Tomorrow

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