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Petroleum Minister Hardeep Singh Puri on Monday (April 7) signalled potential relief for consumers if global crude oil prices remain stable in the $60–$65 range — or even up to $68. His comment came shortly after the government announced a ₹2 per litre hike in Special Additional Excise Duty (SAED) on both petrol and diesel, effective April 8. “If crude oil remains in a range of $60–$65.
..$68, the common man can expect some relief,” Puri said at a press conference, indicating that Oil Marketing Companies (OMCs) would have more flexibility on pricing in such a scenario.
Global benchmark Brent dropped by almost 4% to $63.21 a barrel early Monday, a four-year low, after slumping 11% last week. The revised duty structure takes SAED on petrol from ₹11 to ₹13 per litre and on diesel from ₹8 to ₹10 per litre.
However, the Ministry of Petroleum and Natural Gas clarified that this increase will not be passed on to consumers — retail prices of petrol and diesel will remain unchanged for now. Puri assured that the burden of the hike would be borne by OMCs, not the end-user. “Let me clarify upfront and on the record — this will not be passed on to the consumer,” he stated.
In another move, the government also hiked the price of domestic LPG cylinders by ₹50, effective April 8. The additional funds raised from both hikes will be used to compensate OMCs for pending LPG subsidy dues. Also Read: Cooking gas price increased by ₹50 per cylinder, says Oil minister Hardeep Singh Puri.
