The Indian government has reduced excise duty on petrol and diesel by ₹10 per litre to prevent a sharp rise in fuel prices amid increasing global crude oil rates.
The central government has announced a major relief measure for consumers by cutting excise duty on petrol and diesel by ₹10 per litre each. The decision was taken after global crude oil prices surged sharply due to tensions in West Asia and supply concerns.
Under the new structure, the special additional excise duty on petrol has been reduced from ₹13 per litre to ₹3 per litre, while the duty on diesel has been removed completely. The government has said that this move is aimed at protecting consumers and oil companies from a sudden increase in domestic fuel prices.