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Fuel duty cut to ensure domestic supply sans price rise - Sitharaman
This story was originally published at 12:25 IST on 27 March 2026
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--ANI: Sitharaman: Cut excise duty to maintain domestic fuel supply
--ANI: Sitharaman: Excise duty cut to ensure OMCs continue sourcing oil
--ANI: Sitharaman:Cut excise duty to absorb hit on OMCs from high crude price
--ANI: Sitharaman: Cut fuel excise duty in order to avoid retail price rise
NEW DELHI – The government has cut excise duty on diesel and petrol by INR 10 per litre to ensure that oil marketing companies continue sourcing crude oil and maintain the domestic supply of the fuel without raising the retail price, Finance Minister Nirmala Sitharaman told news agency ANI Friday. The decision to cut the duty comes at a time when the price of Brent Crude has jumped 47% to over $100 per barrel in the aftermath of the US and Israel launching a joint attack on Iran on Feb 28.
The excise duty on petrol has been cut to INR 3 per litre from INR 13 per litre, and the duty on diesel has been lowered to zero from INR 10 per litre. The government has also levied an export duty of INR 21.50 per litre on diesel and INR 29.50 per litre on aviation turbine fuel.
The excise duty cuts will, however, not result in a lowering of the retail price of the fuels. "We have announced the decision, whereby, we will be giving support to the oil marketing comapnies so that they can import the material," Sitharaman said. "And even if it is imported at higher cost, the common citizen will not have to face any increase in the price of petrol or diesel," the finance minister added.
Sitharaman also clarified that claims of government considering a lockdown to curb fuel shortage are "absolutely baseless". She also assured that there is no shortage of any fuel, including liquefied petroleum gas, in the country. End
US$1 = INR 94.60
Compiled by Krity Ambey
Filed by Vandana Hingorani
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