💨 Abstract

The Indian government increased excise duty on petrol and diesel by Rs 2 per liter each, but retail prices will remain unchanged due to a price cut from falling international oil prices. The hike was adjusted to offset the reduction in retail prices. The change takes effect on April 8, 2025. The Modi government has historically raised excise duty when international oil prices fall, and has done so multiple times since 2014.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖