PM Modi-Led Centre Govt Hikes Fuel Excise Duty, Raises LPG Price by ₹50

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NEW DELHI: The Union government, led by Prime Minister Narendra Modi, has raised the excise duty on petrol and diesel by ₹2 each, according to a notification issued by the Ministry of Finance on Monday. In addition to the fuel price revision, the cost of domestic liquefied petroleum gas (LPG) cylinders has also been increased by ₹50, further burdening household budgets.

The revised prices for petrol and diesel will come into force from April 8. With this adjustment, the excise duty on petrol rises to ₹13 per litre, while diesel will now carry a duty of ₹10 per litre. This move is expected to lead to a noticeable rise in fuel prices across the country.

The fuel price hike by the central government follows closely on the heels of the Karnataka government’s move to raise diesel prices by ₹2 per litre. Led by Chief Minister Siddaramaiah, the state government had revised the sales tax on diesel from 18.44% to 21.17%, effective April 1. This revision resulted in an immediate increase of ₹2.05 per litre in diesel prices across the state.

Meanwhile, Union Petroleum Minister Hardeep Singh Puri also announced that the price of an LPG cylinder under the Pradhan Mantri Ujjwala Yojana will now be ₹550, up from ₹500. For consumers outside the Ujjwala scheme, the new price per cylinder will be ₹853.

Puri added that LPG prices will now be reviewed on a biweekly basis, aligning domestic pricing more closely with international trends.

The price hikes are likely to impact household and transportation costs, sparking concern among consumers already grappling with inflation in essential commodities.

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