Union Home Minister and Minister of Cooperation Shri Amit Shah expresses gratitude to PM Shri Narendra Modi for taking a decision to cut excise duty on fuel

• Central excise duty on petrol and diesel cut by Rs 10/litre, effective immediately, announced 27 March 2026 by the Modi government.
• Cut targets shielding public-sector OMCs (IOCL, BPCL, HPCL) from mounting under-recoveries, not a pump-price reduction for consumers.
• Triggered by West Asia conflict-driven crude shock: Brent surged ~USD 70 → USD 122/bbl (~75% rise) in under four weeks.
• UPSC relevance: intersects GS-III (energy security, fiscal policy, taxation) and GS-II (centre-state finance, federalism on petroleum taxation).