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India raised Special Additional Excise Duty on petrol to ₹13 and diesel to ₹10 per litre, effective April 8. Despite the hike, retail fuel prices remain unchanged. Analysts watch BPCL share price and NPCL share price for market impact.
On 7 April, the Indian government announced a ₹2 per litre hike in the Special Additional Excise Duty (SAED) on both petrol and diesel, effective from 8 April. The revised rates raise SAED on petrol from ₹11 to ₹13 and on diesel from ₹8 to ₹10 per litre. The Ministry of Petroleum and Natural Gas confirmed that this change will not affect retail fuel prices, as state-run oil marketing companies (OMCs) will absorb the impact without passing it on to consumers.
The decision follows a decline in global crude oil prices, currently averaging around $60 per barrel. Despite the ongoing correction, Indian OMCs are working with inventories priced at higher historical costs—close to $75 per barrel—due to a typical 45-day stock cycle.
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SAED on petrol increased from ₹11 to ₹13 per litre.
SAED on diesel increased from ₹8 to ₹10 per litre.
No impact on retail prices for consumers.
OMCs continue to sell fuel from older, costlier inventory.
Crude oil prices have dipped to around $60 per barrel globally.
Investors eye BPCL share price and NPCL share price for market signals.
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Fuel Type | Previous SAED (₹/litre) | New SAED (₹/litre) | Retail Price Impact |
Petrol | ₹11 | ₹13 | No change |
Diesel | ₹8 | ₹10 | No change |
With the increase in duties absorbed by state-run companies, the focus now shifts to how this impacts their profit margins. Firms such as Bharat Petroleum Corporation Ltd (BPCL) and Numaligarh Refinery Ltd (NPCL) will need to balance tax liabilities with inventory costs and global price trends. Investors are closely monitoring the BPCL share price and NPCL share price, especially amid volatile crude movements and internal cost structures.
Although crude has stabilised below $65 per barrel, consistent declines could give OMCs more flexibility in managing future retail pricing. The ability to maintain stable pump prices, despite tax hikes, offers the government fiscal space while cushioning consumers—a strategy that could influence both BPCL share price and NPCL share price in the near term.
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