New Delhi, March 28: The central government’s decision to reduce excise duty on petrol and diesel has been welcomed by various sectors, offering consumers relief from potential price hikes due to global conflicts.
Speaking on the matter, residents expressed that this move would help curb the sharp increase in fuel prices amid ongoing geopolitical tensions. Avi Makwana from Rajkot stated that the government’s initiative is positive, aiding in stabilizing fuel prices and providing relief to small traders. He emphasized that fluctuations in fuel prices directly impact businesses, especially at the grassroots level.
Similarly, Kiyur Anorcat highlighted that the ongoing tensions between the U.S., Israel, and Iran have disrupted global fuel supply, leading to price surges in many countries. He noted that while neighboring nations like Pakistan and Sri Lanka have seen significant increases in fuel prices, the Indian government’s reduction of excise duty by ₹10 per liter on both petrol and diesel will help control inflationary pressures.
In Sangrur, former president of the Punjab Petroleum Association, Vinod Bansal, remarked that while the duty cut may not lead to an immediate decrease in retail prices, it will provide considerable relief to oil marketing companies. He explained that this measure would help offset losses and prevent inevitable price hikes caused by war-like situations. He also reassured that there is no shortage of petrol and diesel in the country, and supply chains are operating smoothly.
Local resident Sukdeep Singh described the decision as beneficial, stating that during uncertain times, it will ultimately assist consumers in some way. Earlier, Finance Minister Nirmala Sitharaman mentioned that the reduction in central excise duty on petrol and diesel aims to provide relief to consumers facing rising prices. In a post on social media platform X, she explained that the ₹10 per liter duty cut was implemented to maintain domestic consumption amid tensions in West Asia.
My name is Narendra Jijhontiya. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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