Fuel Relief Amid War: India Cuts Excise Duty As Global Oil Prices Surge Due To Iran Conflict

India Today’s Amit Bhardwaj reports from Delhi as the Iran war drives a surge in global oil prices, raising concerns for consumers. In a key move, the Indian government has cut additional excise duty on petrol and diesel to ease pressure on oil companies facing revenue losses. While global prices remain high, retail fuel rates are being stabilised as the government absorbs the impact instead of passing it on to consumers. Authorities have reassured that there is no fuel shortage or crisis, with supplies remaining stable and refineries operating normally. The decision aims to balance economic strain while preventing price shocks at fuel stations.