Govt slashes excise duty on petrol to Rs 3/litre, exempts diesel
GST
Dated:- 27-3-2026
PTI
New Delhi, Mar 27 (PTI) The government has slashed excise duty on petrol to Rs 3 a litre and exempted diesel fully from it to help oil marketing companies like HPCL, BPCL and IOC deal with the rising global crude prices amid the war in the Middle East.
The Finance ministry, in a notification dated March 26, cut excise duty on petrol to Rs 3 a litre, from Rs 13 a litre earlier, while the levy on diesel has been slashed to nil from Rs 10 earlier.
The duty cuts are effective immediately, the ministry said.
Fuel marketing companies in India have been under strain as retail petrol and diesel prices remained frozen despite a nearly 5
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se mostly come via the Strait of Hormuz.
As conflict intensified, Iran blocked the strait, and insurers withdrew coverage, effectively halting tanker movements.
Nayara Energy, which operates 6,967 of India's 102,075 petrol pumps, has decided to pass on part of the increase in input costs to consumers. Petrol at Nayara pumps now costs Rs 100.71 a litre and diesel costs Rs 91.31 per litre.
Jio-bp, the fuel retailing joint venture of Reliance Industries and BP Plc that owns 2,185 outlets, has, however, so far not raised prices despite incurring heavy losses on the sale of petrol and diesel.
State-owned fuel retailers, who control about 90 per cent of the market, continue to keep rates frozen. PTI JD ANZ VN VN
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