New Delhi: The government on Monday assured of no hike in diesel and petrol prices as a result of Rs 2 per litre increase in excise duty on both the key fuels but announced that LPG price for consumers would go up by Rs 50 per cylinder.
"The price of 14.2 kg LPG will go on to increase from 500 to 550 under Ujwala and from 803 to 853 for non-Ujwala users," Union Oil Minister Hardeep Singh Puri said.
Responding to a query on the impact of excise duty hike on petrol and diesel, Puri said that the decisions had been taken by the Ministry of Finance and it will not be passed on to the consumers.
"It will go to the general kitty and will be used for compensating the losses of the OMCs (oil marketing companies).
The Ministry of Petroleum and Natural Gas in a post on social media “X” said, "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."
The excise duty has been hiked in case of Petrol to Rs 13 a litre and Diesel Rs 10 a litre, according to an official notification by the Department of Revenue, Ministry of Finance, dated April 7, 2025.
Annual average retail selling prices (RSP) of petrol and diesel have significantly risen over the last 10 years.
As per official data, average RSP of petrol and diesel in Delhi in 2024-25 (till January 30, 2025) stood at Rs 94.73 and Rs 87.63 respectively, significantly higher from 61.59 and Rs 47.01 in 2015-16.
The recent decline in global crude price could be attributed to ongoing tariff war and mounting pressure on some of the major economies.
The Opposition Congress hit at the government saying that the price of crude oil has fallen to its lowest level in the last four years but consumers have been deprived of any relief.
"The price of crude oil has fallen to its lowest level in the last fouryears. According to this, the price of petrol and diesel should have been reduced by at least Rs 20. But our government has increased the price by Rs 2 today," Congress spokesperson Pawan Khera said.
