Govt Cuts Petrol, Diesel Excise Duty To Support OMCs And Protect Consumers Amid Global Oil Price

Union Finance Minister Nirmala Sitharaman said the government has cut excise duties on petrol and diesel to shield consumers from rising global crude oil prices and ensure adequate fuel supply in the country. Petrol excise duty has been reduced to ₹3 per litre from ₹13, while diesel duty has been cut to nil from ₹10 per litre. The move aims to support oil marketing companies, prevent price hikes for consumers, and maintain fuel availability amid global crisis and West Asia tensions. The government has also raised export duties to ensure domestic supply and avoid shortages of petrol, diesel, crude and ATF across India.