Fuel duty cuts shield citizens from global price surge: Pema Khandu

OUR CORRESPONDENT

ITANAGAR: Arunachal Pradesh Chief Minister Pema Khandu on Friday said the Centre, under the leadership of Prime Minister Narendra Modi, has significantly reduced excise duties on petrol and diesel to shield citizens from the sharp rise in global crude oil prices.

 “In a decisive move to protect citizens from rising global fuel prices, the Government of India under the leadership of Hon’ble Prime Minister Shri Narendra Modi Ji has sharply reduced excise duties,” the chief minister said in a post on X.

He informed that excise duty on petrol has been reduced from Rs 13 to Rs 3 per litre, while the duty on diesel has been brought down from Rs 10 per litre to nil.

Khandu pointed out that the decision comes at a time when international crude oil prices have surged dramatically. “This comes at a time when crude oil prices have surged globally from around $70 to nearly $122 per barrel within a month, driving fuel prices sharply upward across the world,” he said. Highlighting the global situation, the chief minister noted that many regions have witnessed steep fuel price hikes due to the surge in crude oil prices. “While many regions have seen steep hikes, Southeast Asia 30-50 per cent, North America around 30 per cent, Europe around 20 per cent, and Africa nearly 50 per cent, India stands out as a rare exception,” he pointed out.

According to him, the Centre has taken the unusual step of absorbing the financial impact instead of transferring the burden to citizens. “Instead of passing the burden onto citizens, the government has chosen to absorb the impact, ensuring no additional pressure on the common man,” he said. The chief minister further noted that the government has also acted to protect domestic fuel availability and prevent profiteering in the market.

“To safeguard domestic supply and prevent undue profiteering, export duties have also been imposed at Rs 21.5 per litre on diesel and Rs 29.5 per litre on ATF,” he added.

Khandu said that despite the potential revenue implications, the move reflects the Centre’s priority of public welfare and economic stability.

“Despite significant revenue implications, this move reflects a continued commitment to public welfare, economic stability, and shielding citizens from global shocks,” he added.

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