New Delhi, March 30 -- Petrol and diesel prices across major Indian cities remained largely unchanged on Monday, despite the government's move to cut excise duty on petrol by Rs.3 a litre and exempt diesel entirely from the levy.

The move was aimed to provide relief to state-run oil marketing companies (OMCs), which have been facing financial difficulties amid rising global crude oil prices due to the effective closure of the Strait of Hormuz, which is crucial for global energy trade.

Since the US and Israel carried out joint strikes against Iran on 28 February, the Brent crude oil benchmark has risen by more than 50%, with prices briefly touching $116 on Monday.

While Iran has granted exemptions to certain 'friendly' countries - inclu...