Madhya Pradesh Chief Minister Mohan Yadav has welcomed the Centre’s decision to reduce excise duty on petrol and diesel, praising Prime Minister Narendra Modi for what he described as a timely and forward-looking move. He said the decision comes amid rising tensions and war-like conditions in the Gulf region, and would help ensure that fuel prices remain stable while allowing refineries to continue operations smoothly.
Expressing gratitude, the Chief Minister said that at a time when global fuel prices are rising steadily, providing relief to Indian consumers and maintaining adequate fuel availability in the market is a highly commendable step. He added that the move would not only ease the financial burden on the public but also strengthen the business and supply chain of oil companies.
The Centre has announced a reduction of Rs 10 per litre in excise duty on both petrol and diesel. However, retail prices are expected to remain unchanged, as oil companies will use the relief to offset the rising cost of crude oil.
The cut has effectively prevented a potential increase in fuel prices that may have been necessary due to nearly 50 per cent rise in international crude oil prices over the past month.
According to a notification issued late Thursday night, the special additional excise duty on petrol has been reduced from Rs 13 per litre to Rs 3 per litre, while on diesel it has been cut from Rs 10 per litre to zero.
