New Delhi, March 27 -- The Centre has reduced excise duty on petrol and diesel by Rs 10 per litre, providing relief as global crude oil prices remain under pressure due to ongoing geopolitical tensions.
In a notification released by the Ministry of Finance, the special additional excise duty on petrol has been cut from Rs 13 per litre to Rs 3, while the duty on diesel has been reduced from Rs 10 per litre to nil. The new rates have come into effect immediately.
The move comes against the backdrop of escalating conflict in West Asia, which has raised concerns over supply disruptions through key oil routes such as the Strait of Hormuz. The tensions have led to fluctuations in global crude prices, impacting oil-importing countries like India...