By Shishir Prashant 
PrashantNews
Union Finance Minister Nirmala Sitharaman on Friday announced that the central excise duty on petrol and diesel for domestic consumption has been reduced by ₹10 per litre each in the wake of the Middle East war.
“This will provide protection to consumers from rise in prices. Hon. PM @narendramodi has always ensured that citizens are protected from vagaries of supply and costs of essential goods,” she said on X.
“Further, duties have been imposed on exports of Diesel at ₹21.5 per litre and on ATF at ₹29.5 per litre. This will ensure adequate availability of these products for domestic consumption. The Parliament has been notified about the same,” Sitharaman said.
Commenting on the move, the Union Minister Jitendra Singh said in the midst of the ongoing turmoil, PM Modi has once again risen to the occasion by taking a highly courageous and sensitive decision to reduce the excise duty on petrol to Rs 3 per litre from Rs 13 per litre and on diesel to Nil (Zero) from Rs 10 per litre respectively, thereby bringing a huge relief to the common man.
The move to cut excise duty on petrol and diesel came amid rising geopolitical tensions in the Middle East and fears of supply disruption through the Strait of Hormuz. The move is also expected to cushion consumers and oil companies from volatile crude prices, its full impact depends on how fuel pricing works in India.