NEW DELHI: After the government on Friday cut central excise duty on petrol and diesel by Rs 10 per litre each amid the ongoing West Asia crisis, Finance Minister Nirmala Sitharaman said the move would help shield consumers from global volatility.
She said the reduction was aimed at protecting citizens from a potential rise in fuel prices.
"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 a rise in prices, " Sitharaman said in a post on X.
She added that the government has also imposed export duties on diesel and aviation turbine fuel (ATF) to ensure adequate domestic availability amid supply uncertainties. In a major move, a special additional excise duty of Rs 50 per litre has been imposed on ATF.