Lagatar24 Desk
New Delhi: The central government has reduced excise duty on petrol and diesel to prevent any immediate price hike, assuring citizens that fuel prices will remain stable despite global energy concerns.
Excise Duty Reduced To Ease Pressure
The Centre has announced a reduction of ₹10 per litre on petrol and ₹13 per litre on diesel in excise duty. This move aims to offset the impact of rising global crude oil prices and eliminate fears of a price hike in the domestic market. The government clarified that there will be no increase in fuel prices at present, bringing relief to consumers amid widespread speculation.
Decision Linked To Global Energy Crisis
The decision comes in the backdrop of the ongoing West Asia conflict affecting global oil supply chains. The government has ensured sufficient crude oil availability for the next 60 days through alternative sources. Officials indicated that while prices may not drop immediately, the duty cut will help oil marketing companies manage losses. Authorities also confirmed that there is no shortage or rationing of fuel, and petrol pumps across the country are operating normally.
