Punjab BJP Chief Thanks PM Modi for Fuel Tax Cut Amid Global Price Surge

The excise duty on petrol has been reduced from Rs 13 to Rs 3 per litre, while the Rs 10 duty on diesel has been completely removed. Due to ongoing tensions in West Asia, crude oil prices have surged from around $70 per barrel to nearly $122 per barrel over the past month.

As a result, petrol and diesel prices have increased significantly worldwide, by 30 to 50 per cent in Southeast Asia, around 30 per cent in North America, 20 per cent in Europe, and about 50 per cent in Africa. During this period, India has emerged as an exception.

BJP chief Jakhar stated that in such challenging circumstances, the government had two options -- either increase prices like other countries and pass the burden onto the public, or bear the financial pressure itself to provide relief. "The Modi government chose the latter path, aiming to protect common citizens from global inflation."

He said that the Prime Minister "understands the hardships faced by ordinary people and knows how to address them effectively". The state BJP President further said that this step will also reduce the heavy losses faced by oil companies, while ensuring that the common public does not bear additional burden. By significantly cutting its own tax revenue, the government has prioritised public welfare above all.

He also mentioned that an export duty of Rs 21.5 per litre on diesel and Rs 29.5 per litre on ATF has been imposed to ensure adequate domestic availability and to prevent misuse of international price differences. "This decision reflects that even in difficult global conditions, the government is prioritising economic stability and public welfare above all else," Jakhar added.

- IANS