Rush Hour: Centre cuts excise duty on petrol and diesel, commercial LPG allocation hiked & more

The Union government has cut the special additional excise duty on petrol ⁠to Rs 3 per litre from Rs 13 per litre, and on diesel to zero from Rs 10. This is expected to help oil marketing companies keep petrol and diesel prices stable.

Fuel marketing companies in the country have been under strain as retail petrol and diesel prices remain frozen despite a nearly 50% surge in international oil prices since the conflict began in West Asia on February 28.

While excise rates on petrol and diesel have been cut, the Centre has also decided to levy duties of Rs 21.5 per litre on exports of diesel and Rs 29.5 per litre on exports of aviation turbine fuel. This is aimed at ensuring the availability of these products for domestic consumption, Union minister Nirmala Sitharaman said. Read on.

Interview: How the war in West Asia could change India’s energy calculus

The Union government increased the commercial allocation of liquefied petroleum gas to 70% of pre-West Asia conflict levels, up from 50%. This additional supply of non-domestic LPG is intended to support industries such as steel, automobiles and textiles, Petroleum Secretary Neeraj Mittal told all states and Union Territories.

“Among these, priority shall be given to process industries or those requiring LPG for specialised heating...

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