The excise duty cut of ₹10 per litre on fuel was announced by Finance Minister Nirmala Sitharaman. The excise duty cut of ₹10 per litre on fuel aims to reduce fuel prices and ease inflation pressure on people.
The government said the move will help consumers during rising global oil prices. It also aims to bring some relief to households and businesses.
Officials explained that fuel prices depend on global crude rates and state taxes. They added that markets may still affect final retail prices.
The government has not announced any further changes yet. It said it will continue to monitor global energy trends.
The decision is expected to reduce fuel costs, but the exact benefit at petrol pumps may differ by location.
