New Delhi: The central government has announced a major relief by reducing excise duty on petrol and diesel by up to ₹10 per litre. The move aims to cushion consumers from rising global crude oil prices.
As per the decision, excise duty on petrol has been significantly reduced, while diesel duty has been brought down to minimal levels.
The immediate impact of this step is that fuel prices are unlikely to increase for now, offering temporary stability to consumers.
However, experts believe that prices may not drop instantly, as oil companies could first adjust previous losses.
The decision comes amid global supply concerns and rising crude prices, with the government attempting to control inflation and ease the burden on the public.
