Fuel Excise Duty cut: Transporters welcome Centre's move amid West Asia war, call it a timely and commendable step

Transporters across India have welcomed the Centrersquos decision to reduce excise duty on fuel calling it a timely and commendable stepIndustry leaders said that the move would help ease pressure on both transport operators and the wider economyThe government has significantly cut excise duties reducing petrol tax from Rs 13 to Rs 3 per litre and bringing diesel duty down from Rs 10 to zeroThe decision comes at a time when global crude oil prices have surged due to geopolitical tensions in West AsiaRelief for common people and industryTransporters said the move would prevent an increase in fuel prices for consumers despite rising international oil costsThey noted that many countries have increased petrol and diesel prices while India has taken steps to shield its citizens from the impactBalancing revenue and public welfareAccording to Bal Malkit Singh of the All India Motor Transport Congress excise duty is a major source of government revenue and reducing it reflects a balanced approach between economic priorities and public welfareStep to ease economic pressureTransporters added that any rise in fuel prices would have directly affected the cost of goods and services impacting the common manThe reduction in duty is expected to help control inflationary pressures and support economic stabilityWhile the duty cut may not immediately lower retail fuel prices industry experts say it shows the governmentrsquos intent to protect citizens from global price volatilityExcise Duty on petrol and diesel slashedCentre on Friday announced that it has reduced excise duty on petrol and diesel by Rs 10 per litre each bringing the duty down to Rs 3 per litre for petrol and zero for dieselThe move is aimed at cushioning the impact of rising global oil prices amid ongoing geopolitical tensions due to the West Asia warIn a post on X Union Finance Minister Nirmala Sitharaman wrote In view of the West Asia crisis the central excise duty on petrol and diesel for domestic consumption has been reduced by Rs 10 per litre each This will provide protection to consumers from rise in prices PM Modi has always ensured that citizens are protected from vagaries of supply and costs of essential goodsShe further stated Duties have been imposed on exports of Diesel at Rs 215 per litre and on ATF at Rs 295 per litre This will ensure adequate availability of these products for domestic consumption The Parliament has been notified about the sameIn view of the West Asia crisis the central excise duty on petrol and diesel for domestic consumption has been reduced by 10 per litre each This will provide protection to consumers from rise in prices Hon PM narendramodi has always ensured that citizens are protected fromhellipmdash Nirmala Sitharaman nsitharaman March 27 2026Exemptions on dutiesThe government announced exemptions on duties for fuel exports and supplies to foreignbound aircraft In addition it has withdrawn a 2022 notification and granted customs duty relief on imported aviation turbine fuel ATF providing further support to the aviation sectorThe decision comes against the backdrop of a global energy crisis linked to tensions involving the United States Israel and Iran as well as concerns over disruptions in the Strait of HormuzUnion Minister for Petroleum and Natural Gas Hardeep Singh Puri wrote on X International crude prices have gone through the roof in the last 1 month from around 70 dollarsbarrel to around 122 dollarsbarrel Consequently petrol and diesel prices for consumers have gone up all over the world Prices have increased by around 30 per cent50 per cent in South East Asian countries 30 per cent in North American countries 20 per cent in Europe and 50 per cent in African countries The Modi Government had two choices either increase prices drastically for citizens of Bharat as all other nations have done or bear the brunt on its finances so that Indian citizen is insulated from international volatilityInternational crude prices have gone through the roof in the last 1 month from around 70 dollarsbarrel to around 122 dollarsbarrel Consequently petrol and diesel prices for consumers have gone up all over the world Prices have increased by around 30 per cent50 per cent in South East Asianhellipmdash Hardeep Singh Puri HardeepSPuri March 27 2026