U.S. President Donald Trump recently implemented reciprocal tariffs for all countries in the world. Many countries around the globe are highly impacted by Trump’s tariffs, and now we have started to see their impact on India as the Finance Ministry on Monday raised the price of LPG by ₹50 and increased the excise duty on Petrol and diesel by ₹2.
The LPG cylinder which cost earlier ₹500 for the Ujjwala Yojana beneficiaries now costs ₹550 and for others, it earlier costs ₹803 now it is increased to ₹853. The excise duty on Petrol is not set to ₹13 and on Diesel ₹10.
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— Hardeep Singh Puri (@HardeepSPuri) April 7, 2025
The Union Minister of Petroleum and Natural Gas Hardeep Singh Puri said the price rise in LPG is to compensate OMCs (Oil Marketing Companies) who were selling LPG cylinders at a loss. He mentioned that OMCs have a bear loss of ₹43000 crores.
Although the ministry has denied that the price hike is not because of Trump’s tariffs fear on the other side Crude oil prices are also continuously falling and reached below $60 per barrel.
If Trump’s tariffs are the actual reason for the price hike in LPG, Petrol, and Diesel in India then we may see price hike other necessary things soon.
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