New Delhi, March 27: Union Home Minister Amit Shah on Friday endorsed the Centre’s decision to cut excise duty on fuel, stating that the move provides much-needed relief to citizens amid rising global energy prices driven by the crisis in West Asia.
Posting on X, Shah said that while many countries are grappling with fuel shortages and price hikes, India’s decision reflects a people-centric governance approach. He also praised Prime Minister Narendra Modi for prioritising consumer interests during a period of global uncertainty.
The Government of India has reduced excise duties on petrol and diesel by ₹10 per litre each, bringing them down to ₹3 per litre for petrol and zero for diesel. The measure is aimed at cushioning the impact of surging crude prices.
Additional steps include duty exemptions on fuel exports and supplies to foreign-going aircraft, along with customs duty relief on imported aviation turbine fuel (ATF).
The policy response comes amid disruptions linked to geopolitical tensions involving the US, Israel, and Iran, particularly affecting the Strait of Hormuz, a key artery for global oil shipments.
Oil marketing companies are expected to absorb part of the financial impact, with current estimated losses of around ₹48.8 per litre due to elevated crude costs.
Despite global volatility, the government has reiterated that India’s fuel supply remains stable, with sufficient stocks of petrol, diesel, and LPG available nationwide, while cautioning against misinformation that could trigger unnecessary panic.
