New Delhi: The Central Government has announced a ₹2 per litre hike in excise duty on fuel, effective April 8, 2025. The revision was detailed in a notification issued by the Department of Revenue under the Ministry of Finance.

Per the notification, the excise duty on petrol has been raised to ₹13 per litre, while the duty on diesel was hiked to ₹10 per litre.

Despite the increase, retail fuel prices will remain unchanged. The Ministry of Petroleum & Natural Gas confirmed via a post on X that Public Sector Undertaking (PSU) Oil Marketing Companies have assured the Ministry of Finance that the hike in excise duty will not impact retail pricing.

In global markets, oil prices saw a sharp decline amid ongoing uncertainties. Saudi Arabia announced its steepest price cut on crude oil in years, leading to a significant drop in prices. Brent crude fell 2.67% to $63.82 per barrel, while West Texas Intermediate dropped 2.69% to $60.31 per barrel.