The central government has reduced excise duty on petrol from Rs 13 per litre to Rs 3 per litre and excise duty on diesel from Rs 10 per litre to zero. The government has reduced excise duty on petrol and diesel by Rs 10-10.

After this, the biggest question is that will the prices of petrol and diesel come down after this reduction? This is a big step of the Modi government in view of the energy crisis in the ongoing war between Iran and Israel-America. This step has been taken by the Modi government to prevent the increase in the price of petrol and diesel. The Iran war has disrupted half of the supply of crude oil (a raw material used to make fuels such as petrol and diesel), but the country has secured enough crude oil supplies from other sources for the next 60 days.

Will the price of petrol and diesel come down?

The decision by the central government to cut excise duty amid rising prices of petrol and diesel in the international market due to the Iran and Israel-US war is being seen as a big relief for both the general public and the economy.

This move will have a direct impact on fuel prices, which reduces the burden on the pockets of oil companies and people. The first and foremost benefit is that petrol and diesel can be cheaper if the oil companies do not increase the prices of petrol and diesel.