Petrol, diesel price in India vs Pakistan, US, more: How much did fuel prices in India change in 3 years?

The government on Monday said that it will increase the excise duty on petrol and diesel by ₹2 each per litre from April 8, but reassured that the price hike will not be passed on to consumers.

“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 oil ministry said in an X post on Monday.

Union Oil Minister Hardeep Singh Puri also confirmed the same during a press conference.

“You would have seen a notification from the Ministry of Finance saying that the excise rates are going up by ₹2 on petrol and diesel. Let me clarify upfront on the record, this will not be passed on to the consumer,” he said.

Petrol, diesel prices in India vs other countries

During his press briefing, Puri also revealed that fuel prices in general has been lower in India for the past three years, and credited the government for navigating through global oil crisis issues in a smooth manner.

His comments echoes a written reply to the Rajya Saba by MoS Suresh Gopi, who in a table format explained that India is the only major economy who reduced its petrol price and diesel price in the last three years.

“India has been the only major economy in the world where the prices of petrol and diesel have come down in recent years,” he said in the reply to a question asked by Congress leader and Rajya Sabha MP Randeep Singh Surjewala.

Here is a breakdown changes in petrol, diesel prices in India versus other countries between November 2021 and December 2024:

• Nepal: Petrol price increased by 20.06 per cent, diesel price rose by 31.64 per cent
• France: Petrol price increased by 11.07 per cent, diesel price rose by 10.99 per cent
• UK: Petrol price increased by 0.17 per cent, diesel price rose by 2.22 per cent
• Canada: Petrol price increased by 5.55 per cent, diesel price rose by 15.06 per cent
• US: Petrol price increased by 1.36 per cent, diesel price rose by 6.90 per cent

What are the taxes you pay on petrol and diesel?

The final price of petrol and diesel that a consumer pays varies from state to state, depending on various factors. These include freight charges, taxes, base price and more.

There are two types of taxes you pay on petrol – excise duty and VAT (Value added tax).

Excise Duty: Excise duty is a tax charged by the centre to petrol and diesel companies to collect a lump sum revenue. Currently, the excise duty on petrol in India is ₹13 and on diesel is ₹10.

VAT: VAT is the additional amount of taxes OMCs have to pay to states where they are selling the fuel. This charges varies from state to state.

Notably, fuel does not fall under the ambit of GST.

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