- The Indian government cut excise duty on petrol by Rs 10 per litre and on diesel by Rs 10 per litre, effective late March 2026, to help state-run oil companies manage losses from high global crude prices.
- The duty reduction aims to prevent retail price hikes for consumers, not to lower pump prices, as oil firms had been absorbing high crude costs.
- Export duties were imposed on diesel (Rs 21.5/litre) and aviation turbine fuel (Rs 29.5/litre) to prioritize domestic supply.
- Finance Minister Nirmala Sitharaman said the move protects consumers from price rises due to West Asia tensions.
- No changes were made to VAT or GST; only central excise duties were adjusted.
Source: regfollower.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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