New Delhi, March 27 -- The Central Government has reduced the additional excise duties on petrol and diesel amid global energy crisis due to the ongoing US-Israel war on Iran and Tehran's moves to restrict shipping through Strait of Hormuz.

The excise duty on petrol has been reduced from Rs. 13 per litre to Rs. 3 per litre, according to a Government notification. The excise duty on diesel has been slashed from Rs. 10 per litre to nil.

However, industry sources say the reduction is unlikely to translate into lower prices at fuel stations for most consumers as the cut will likely be absorbed by oil marketing companies to offset heavy losses on pump sales.

Global crude prices have risen by almost 50 percent since the United States and Isr...