India cuts excise duty on petrol, diesel amid rising global crude prices

The Government of India has reduced excise duty on petrol and diesel despite rising crude oil prices in international markets, according to a statement from the petroleum ministry.

Excise duty on petrol has been cut from ₹13 per litre to ₹3 per litre, while the duty on diesel has been reduced from ₹10 per litre to zero, the ministry said.

Petroleum Minister Hardeep Singh Puri said the decision was taken to help stabilize fuel prices for consumers. According to the minister, the move is aimed at maintaining affordability and ensuring continued supply across the country.

Puri said several countries are responding to higher oil prices by increasing fuel costs by 20 to 30 per cent or by limiting consumption through measures such as closing schools and offices. In contrast, he said, India has maintained steady fuel supplies and relatively affordable pricing.