In a major strategic move to shield the Indian public from global economic volatility, Union Finance Minister Nirmala Sitharaman has announced a significant reduction in fuel prices. Taking to her X (formerly Twitter) handle, the Finance Minister confirmed that the central excise duty on petrol and diesel has been slashed by ₹10 per litre. This decision comes as a massive relief for the common man, especially at a time when the West Asia conflict is threatening to disrupt global energy supplies.

Sitharaman explained that the move was primarily aimed at protecting domestic consumers from the ripple effects of international crude oil price hikes. “Keeping the West Asia crisis in mind, an additional excise duty of ₹10 per litre has been reduced on petrol and diesel. This step will protect consumers from the burden of inflation,” she wrote in her post.

While giving relief to domestic users, the government has also tightened its grip on fuel exports. The Finance Minister informed that a fresh export duty of ₹21.5 per litre has been imposed on diesel exports. Analysts believe this is a deliberate move to ensure that domestic diesel reserves remain high and that fuel remains available for local consumption rather than being shipped out for higher international profits.

Economists view this as a proactive ‘masterstroke’ by the Modi government to curb rising transportation costs, which directly influence the prices of essential goods and food items. By reducing the fuel tax by such a significant margin, the government has effectively cushioned the Indian economy against global shocks. This bold fiscal intervention is being widely celebrated by commuters and businesses across the country.