New Delhi, Apr 7 (Reporter) The government on Monday hiked excise duty by Rs 2 each on diesel and petrol but it will have no impact on retail prices for consumers. The increase in excise duty was announced even as global crude prices remained in downward spiral touching $60 a barrel. “PSU Oil Marketing Companies have informed that there will no increase in retail prices of petrol and diesel, subsequent to the increase effected in Excise Duty Rates today,” Ministry of Petroleum and Natural Gas said in a post on social media “X”. 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 past ten 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 4 years. 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...////...