The government announced an increase in excise duty on petrol and diesel by ₹2 per liter amid global oil price fluctuations and recent tariffs. This decision aims to boost revenue without immediately impacting consumers.
The new rates elevate the duty on petrol to ₹13 and on diesel to ₹10 per liter. Despite this increase, the Petroleum and Natural Gas Ministry has confirmed that retail prices will remain stable for now.
In metropolitan areas like Delhi, current retail prices are approximately ₹94.77 per liter for petrol and ₹87.67 per liter for diesel. Industry experts suggest that while this measure may bring long-term fiscal benefits, the government is keen on shielding consumers from immediate cost burdens. Additionally, initiatives like the ethanol blending program have generated significant savings in foreign exchange, further stabilizing the market overall.
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