Crude oil prices have surged past $110 per barrel due to ongoing geopolitical tensions, yet retail fuel prices in India have remained stable since a ₹2 per litre cut last year. In Delhi, petrol is priced at ₹94.72 and diesel at ₹87.62. The Government of India previously reduced excise duty by ₹10 per litre to mitigate the impact of rising crude prices, leading to estimated under-recoveries of ₹26 per litre for petrol and ₹81.90 for diesel. If petrol and diesel were included under the Goods and Services Tax (GST), the retail price of petrol could drop to approximately ₹72.49 per litre, while diesel could fall to around ₹69-70 per litre. Currently, over 50% of the retail price is attributed to various taxes, including central excise duties and state VAT. The inclusion of fuel under GST would simplify this tax structure, potentially providing consumers with significant savings at the pump.