Mumbai: Even though the Union government on Friday announced a cut in excise duty on petrol and diesel, the oil companies are not ging to pass on the benefit to customers. Past president of the petrol dealers' association Ravi Shinde told FPJ that petrol and diesel would continue to be sold for Rs 103.54 and Rs 90.03 per litre respectively. He said the oil companies were facing a huge crisis following the steep rise in crude oil price due to the war in the Middle East. ``The cut in excise has been done primarily to help the oil PSUs reduce their loss," he explained.
Maharashtra Chief Minister Devendra Fadnavis on Friday hailed the Centre's move to reduce excise duty on petrol and diesel, asserting that it will insulate Indian consumers from the fallout of the ongoing Middle East conflict.
Chief Minister Devendra Fadnavis said the government's move was a vital protective measure against global energy volatility. The Centre has slashed excise duty by Rs 10 per litre on both petrol and diesel with immediate effect.
Speaking to reporters, Fadnavis thanked Prime Minister Modi for the proactive move. He pointed out that while neighbouring nations like Sri Lanka, Pakistan and Bangladesh, were facing severe shortage of fuel India has maintained stability. "The Central government has ensured that the financial burden of escalating crude prices is transferred to citizens," he noted.
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The CM urged citizens not to engage in "panic buying", confirming that refineries are operating at high capacity and that domestic stocks are secure for over 60 days.
He also warned against rumour-mongers on social media platforms such as WhatsApp and X (formerly Twitter), who are spreading false claims of a nationwide lockdown or fuel scarcity.
"The government had two choices: either increase prices drastically for citizens as other nations have done, or bear the brunt on its finances so that people are insulated from international volatility," Union minister for petroleum Hardeep Singh Puri explained.
