New Delhi, March 27: Petroleum Minister Hardeep Singh Puri has said that the Government of India is bearing the burden of rising global crude oil prices to protect citizens from higher fuel costs. He emphasized that despite the surge in international markets triggered by the West Asia conflict, the Centre has ensured stability in domestic fuel prices by reducing excise duties and absorbing revenue losses.
Puri highlighted that excise duty on petrol has been cut to ₹3 per litre from ₹13, while diesel duty has been reduced to zero from ₹10. He noted that this decision has significantly impacted government revenues but was necessary to shield consumers and maintain economic stability. “India is not passing the full impact of global crude price hikes to its citizens. The government is absorbing the burden to protect households and businesses,” he said.
The minister also dismissed rumours of a nationwide lockdown amid the ongoing West Asia crisis, calling them “completely false.” He assured that the government is working to maintain smooth supplies of petrol, diesel, oil, and gas despite global disruptions. Puri added that oil marketing companies are facing heavy losses, but the Centre remains committed to ensuring affordability for the public.
The announcement comes as global crude prices continue to rise following escalating tensions in West Asia. India, heavily dependent on imports, has prioritized energy security and consumer welfare, even at the cost of fiscal strain. The government’s stance reflects its determination to balance economic challenges with public interest during a period of international volatility.
