In a massive relief to Indian consumers battling global economic uncertainties, the Central Government has announced a significant cut in fuel prices. To shield common citizens from the surge in international crude oil prices due to the West Asia conflict, the Centre on Friday reduced the excise duty on petrol and diesel by ₹10 per litre. This move has led to an immediate drop in fuel prices across petrol pumps nationwide.

According to the Ministry of Finance, this proactive step aims to curb inflation and lower the cost of living for the common man. By reducing the duty by ₹10, the government has ensured that the impact of high international crude rates does not trickle down to the Indian middle class. This reduction is expected to lower transportation costs, which in turn will bring down the prices of essential commodities like vegetables, milk, and groceries.

Industry experts suggest that after this cut, petrol and diesel prices in major cities like Kolkata, Delhi, and Mumbai will see a double-digit dip, making daily commutes much more affordable. “The objective is to provide stability to the domestic market despite the global volatility,” Finance Minister Nirmala Sitharaman stated while explaining the rationale behind the slash.

Furthermore, to maintain adequate fuel reserves within India, the government has imposed an export duty of ₹21.5 per litre on diesel exports. This ensures that oil marketing companies prioritize the domestic supply over international profits. As the news spread, long queues were seen at several petrol pumps with citizens welcoming the move. This “₹10 gift” from the Centre is being viewed as a strategic masterstroke ahead of the crucial elections.