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Finance Minister Nirmala Sitharaman assured the public on Friday that the central government will ensure that no LPG, petrol or diesel shortage hurts the consumer. "The way the PM responds to such situations... The PM said that the price for consumers should not be increased," said the Union minister. Her remarks followed the Centre's move to reduce excise duties on petrol and diesel to curb inflation and protect consumers amid rising global oil prices, in light of a surge in crude oil rates -- with benchmark Brent above the $100 a barrel mark -- amid tensions around the Strait of Hormuz. 
"We took this decision to ensure that OMCs do not stop buying crude oil so that there is no shortage of fuel in the country... We have raised the excise duty on export of ATF to ensure its availability in the country," said Sitharaman. 
The government has repeatedly assured the public of adequate arrangements in place to ensure fuel and fertiliser supplies for the economy, despite global market volatility. 
The country is the world's third-biggest oil importer and consumer. It meets about four-fifths of its oil requirement through imports.
<blockquote>A PRO-PEOPLE DECISION AT A CRITICAL GLOBAL MOMENT
As volatility grips international energy markets, India led by PM <a href="https://twitter.com/narendramodi?ref_src=twsrc%5Etfw">@narendramodi</a> ji, has acted yet again with strong foresight and resolve. The reduction in excise duty on petrol and diesel by ₹10 per litre each will…
— Jyotiraditya M. Scindia (@JM_Scindia) <a href="https://twitter.com/JM_Scindia/status/2037412332494786638?ref_src=twsrc%5Etfw">March 27, 2026</a></blockquote>
<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><blockquote>With global crude prices surging, many nations passed the burden to citizens. Bharat chose to protect its poor and middle income families.
PM <a href="https://twitter.com/narendramodi?ref_src=twsrc%5Etfw">@narendramodi</a> Ji has reduced excise duty on petrol and diesel by ₹10 per litre, while imposing export duties on diesel and ATF to secure…
— Ashwini Vaishnaw (@AshwiniVaishnaw) <a href="https://twitter.com/AshwiniVaishnaw/status/2037418616292032634?ref_src=twsrc%5Etfw">March 27, 2026</a></blockquote>
<script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><h2>Strait of Hormuz Situation: India cuts excise duties on petrol and diesel </h2>
Blockages in the Strait of Hormuz have fuelled multiple bouts of surges in oil rates over the past few weeks in a conflict that began with join US-Israel strikes against Iran that left its Supreme Leader killed and triggered Tehran's retaliatory action against several countries in the Middle East. 
Iran threatened to permanently block the strait -- a crucial maritime region connecting the Persian Gulf with the Gulf of Oman and the Arabian Sea, and normally enables the passage of about one-fifth of the world's oil and gas supplies. 
<h2>Latest in Middle East Conflict: Donald Trump extends pause in planned strikes vs Iran power infra </h2>
US President Donald Trump said earlier on Friday that the United States is extending a five-day pause on planned attacks against Iranian power infrastructure, claiming that the move was at Tehran's request. The US had initiated the five-day delay on Monday. 
Now, according to Trump, the US will not target the assets until 8 pm Eastern Time on Monday, April 6. 
Trump also said that talks between both sides are on. 
<h2>Don't panic! Ignore lockdown rumours, says Centre</h2>
Assuring the public that there will not be any lockdown, the finance minister said: "I am surprised that some leaders are saying there will be a lockdown and there will be shortages of fuel. These are baseless. Such remarks coming from those in political domains are worrisome."
Sitharaman categorically said there will be no lockdown. "I want to reassure people that there shall be no such lockdown as we saw in COVID," she said.
<img alt="fuel prices India, LPG petrol diesel supply India, Nirmala Sitharaman fuel assurance India, fuel shortage India rumours lockdown, excise duty cut petrol diesel India impact, Strait of Hormuz oil crisis India effect, crude oil surge India petrol diesel pri" title="fuel prices India, LPG petrol diesel supply India, Nirmala Sitharaman fuel assurance India, fuel shortage India rumours lockdown, excise duty cut petrol diesel India impact, Strait of Hormuz oil crisis India effect, crude oil surge India petrol diesel pri" height="675" width="1200" src="https://cdn.zeebiz.com/sites/default/files/Mar27__petrol_diesel_excise_points___1200_675_bg__aI.jpg" />
<h2>Excise duty reduced to Rs 3, diesel duty removed </h2>
The central government cut the excise duty -- an indirect levy imposed on the production of goods within a country -- on petrol to Rs 3 per litre from Rs 13 per litre and removed it on diesel from Rs 10 per litre. 
The move comes ahead of elections in four states and one Union Territory due this year. 
Analysts say that the duty cuts are seen offsetting 30-40 per cent of the losses faced by oil marketing companies. 
<h2>Domestic production at full capacity, curbs on exports </h2>
The government has imposed export duties on diesel at Rs 21.5 a litre and Rs 29.5 a litre tax aviation turbine fuel (ATF) -- also known as jet fuel. This will ensure adequate availability of these products for domestic consumption, according to an official statement. 
Most ​PSU oil refiners have already stopped exporting fuels. 
Here are answers to frequently asked questions (FAQs) on this story: 
What is excise duty? Who bears it?
Excise duty is an indirect tax imposed by the administration on the manufacturing of goods within a country. It is levied on producers.
In this case, it is levied on downstream oil companies.
Typically, the final burden is passed on to consumers.
What does lower excise duty mean for petroleum refiners?
It allows OMCs to trim their losses when global crude prices are high. Here's how it happens:
<ul>
<li>The government absorbs part of the cost burden</li>
<li>This eases retail cost pressure on OMCs, enabling them to keep buying crude oil</li>
<li>In essence, it avoids supply disruptions</li>
</ul>
What are windfall taxes?
Windfall taxes are extra taxes imposed on companies when they earn unusually high profits.
The goal is to discourage exports and, in turn, ensure sufficient domestic supplies. 
Do Indian consumers have to worry about the energy situation?
According to the government, there is no immediate reason to worry. 
Is there going to be a lockdown?
No. The government has assured the public that there will be no COVID era-like lockdowns because of this situation. 
What should the public do? 
Officials have time and again urged the public not to panic-buy or panic-book auto or cooking fuels.
The government has categorically dismissed rumours about lockdown and fuel shortages, calling them baseless and misleading.

Finance Minister Nirmala Sitharaman assured the public on Friday that the central government will ensure that no LPG, petrol or diesel shortage hurts the consumer. "The way the PM responds to such situations... The PM said that the price for consumers should not be increased," said the Union minister. Her remarks followed the Centre's move to reduce excise duties on petrol and diesel to curb inflation and protect consumers amid rising global oil prices, in light of a surge in crude oil rates -- with benchmark Brent above the $100 a barrel mark -- amid tensions around the Strait of Hormuz. "We took this decision to ensure that OMCs do not stop buying crude oil so that there is no shortage of fuel in the country... We have raised the excise duty on export of ATF to ensure its availability in the country," said Sitharaman. The government has repeatedly assured the public of adequate arrangements in place to ensure fuel and fertiliser supplies for the economy, despite global market volatility. The country is the world's third-biggest oil importer and consumer. It meets about four-fifths of its oil requirement through imports.A PRO-PEOPLE DECISION AT A CRITICAL GLOBAL MOMENTAs volatility grips international energy markets, India led by PM @narendramodi ji, has acted yet again with strong foresight and resolve. The reduction in excise duty on petrol and diesel by ₹10 per litre each will…— Jyotiraditya M. Scindia (@JM_Scindia) March 27, 2026With global crude prices surging, many nations passed the burden to citizens. Bharat chose to protect its poor and middle income families.PM @narendramodi Ji has reduced excise duty on petrol and diesel by ₹10 per litre, while imposing export duties on diesel and ATF to secure…— Ashwini Vaishnaw (@AshwiniVaishnaw) March 27, 2026Strait of Hormuz Situation: India cuts excise duties on petrol and diesel Blockages in the Strait of Hormuz have fuelled multiple bouts of surges in oil rates over the past few weeks in a conflict that began with join US-Israel strikes against Iran that left its Supreme Leader killed and triggered Tehran's retaliatory action against several countries in the Middle East. Iran threatened to permanently block the strait -- a crucial maritime region connecting the Persian Gulf with the Gulf of Oman and the Arabian Sea, and normally enables the passage of about one-fifth of the world's oil and gas supplies. Latest in Middle East Conflict: Donald Trump extends pause in planned strikes vs Iran power infra US President Donald Trump said earlier on Friday that the United States is extending a five-day pause on planned attacks against Iranian power infrastructure, claiming that the move was at Tehran's request. The US had initiated the five-day delay on Monday. Now, according to Trump, the US will not target the assets until 8 pm Eastern Time on Monday, April 6. Trump also said that talks between both sides are on. Don't panic! Ignore lockdown rumours, says CentreAssuring the public that there will not be any lockdown, the finance minister said: "I am surprised that some leaders are saying there will be a lockdown and there will be shortages of fuel. These are baseless. Such remarks coming from those in political domains are worrisome."Sitharaman categorically said there will be no lockdown. "I want to reassure people that there shall be no such lockdown as we saw in COVID," she said.Excise duty reduced to Rs 3, diesel duty removed The central government cut the excise duty -- an indirect levy imposed on the production of goods within a country -- on petrol to Rs 3 per litre from Rs 13 per litre and removed it on diesel from Rs 10 per litre. The move comes ahead of elections in four states and one Union Territory due this year. Analysts say that the duty cuts are seen offsetting 30-40 per cent of the losses faced by oil marketing companies. Domestic production at full capacity, curbs on exports The government has imposed export duties on diesel at Rs 21.5 a litre and Rs 29.5 a litre tax aviation turbine fuel (ATF) -- also known as jet fuel. This will ensure adequate availability of these products for domestic consumption, according to an official statement. Most ​PSU oil refiners have already stopped exporting fuels. Here are answers to frequently asked questions (FAQs) on this story: What is excise duty? Who bears it?Excise duty is an indirect tax imposed by the administration on the manufacturing of goods within a country. It is levied on producers.In this case, it is levied on downstream oil companies.Typically, the final burden is passed on to consumers.What does lower excise duty mean for petroleum refiners?It allows OMCs to trim their losses when global crude prices are high. Here's how it happens:The government absorbs part of the cost burdenThis eases retail cost pressure on OMCs, enabling them to keep buying crude oilIn essence, it avoids supply disruptionsWhat are windfall taxes?Windfall taxes are extra taxes imposed on companies when they earn unusually high profits.The goal is to discourage exports and, in turn, ensure sufficient domestic supplies. Do Indian consumers have to worry about the energy situation?According to the government, there is no immediate reason to worry. Is there going to be a lockdown?No. The government has assured the public that there will be no COVID era-like lockdowns because of this situation. What should the public do? Officials have time and again urged the public not to panic-buy or panic-book auto or cooking fuels.The government has categorically dismissed rumours about lockdown and fuel shortages, calling them baseless and misleading.

Nirmala Sitharaman has assured the public that the government will make sure that no shortage of auto or cooking fuels impacts the consumer.

Govt to ensure public not burdened by LPG, petrol, diesel shortage: Nirmala Sitharaman 

news-govt-to-ensure-public-not-burdened-by-lpg-petrol-diesel-shortage-nirmala-sitharaman-392721

Finance Minister Nirmala Sitharaman assured the public on Friday that the central government will ensure that no LPG, petrol or diesel shortage hurts the consumer. The way the PM responds to such situations... The PM said that the price for consumers should not be increased, said the Union minister. Her remarks followed the Centres move to reduce excise duties on petrol and diesel to curb inflation and protect consumers amid rising global oil prices, in light of a surge in crude oil rates -- with benchmark Brent above the $100 a barrel mark -- amid tensions around the Strait of Hormuz.  We took this decision to ensure that OMCs do not stop buying crude oil so that there is no shortage of fuel in the country... We have raised the excise duty on export of ATF to ensure its availability in the country, said Sitharaman.  The government has repeatedly assured the public of adequate arrangements in place to ensure fuel and fertiliser supplies for the economy, despite global market volatility.  The country is the worlds third-biggest oil importer and consumer. It meets about four-fifths of its oil requirement through imports. A PRO-PEOPLE DECISION AT A CRITICAL GLOBAL MOMENT As volatility grips international energy markets, India led by PM @narendramodi ji, has acted yet again with strong foresight and resolve. The reduction in excise duty on petrol and diesel by ₹10 per litre each will… — Jyotiraditya M. Scindia (@JM_Scindia) March 27, 2026 With global crude prices surging, many nations passed the burden to citizens. Bharat chose to protect its poor and middle income families. PM @narendramodi Ji has reduced excise duty on petrol and diesel by ₹10 per litre, while imposing export duties on diesel and ATF to secure… — Ashwini Vaishnaw (@AshwiniVaishnaw) March 27, 2026 Strait of Hormuz Situation: India cuts excise duties on petrol and diesel  Blockages in the Strait of Hormuz have fuelled multiple bouts of surges in oil rates over the past few weeks in a conflict that began with join US-Israel strikes against Iran that left its Supreme Leader killed and triggered Tehrans retaliatory action against several countries in the Middle East.  Iran threatened to permanently block the strait -- a crucial maritime region connecting the Persian Gulf with the Gulf of Oman and the Arabian Sea, and normally enables the passage of about one-fifth of the worlds oil and gas supplies.  Latest in Middle East Conflict: Donald Trump extends pause in planned strikes vs Iran power infra  US President Donald Trump said earlier on Friday that the United States is extending a five-day pause on planned attacks against Iranian power infrastructure, claiming that the move was at Tehrans request. The US had initiated the five-day delay on Monday.  Now, according to Trump, the US will not target the assets until 8 pm Eastern Time on Monday, April 6.  Trump also said that talks between both sides are on.  Dont panic! Ignore lockdown rumours, says Centre Assuring the public that there will not be any lockdown, the finance minister said: I am surprised that some leaders are saying there will be a lockdown and there will be shortages of fuel. These are baseless. Such remarks coming from those in political domains are worrisome. Sitharaman categorically said there will be no lockdown. I want to reassure people that there shall be no such lockdown as we saw in COVID, she said. Excise duty reduced to Rs 3, diesel duty removed  The central government cut the excise duty -- an indirect levy imposed on the production of goods within a country -- on petrol to Rs 3 per litre from Rs 13 per litre and removed it on diesel from Rs 10 per litre.  The move comes ahead of elections in four states and one Union Territory due this year.  Analysts say that the duty cuts are seen offsetting 30-40 per cent of the losses faced by oil marketing companies.  Domestic production at full capacity, curbs on exports  The government has imposed export duties on diesel at Rs 21.5 a litre and Rs 29.5 a litre tax aviation turbine fuel (ATF) -- also known as jet fuel. This will ensure adequate availability of these products for domestic consumption, according to an official statement.  Most ​PSU oil refiners have already stopped exporting fuels.  Here are answers to frequently asked questions (FAQs) on this story:  What is excise duty? Who bears it? Excise duty is an indirect tax imposed by the administration on the manufacturing of goods within a country. It is levied on producers. In this case, it is levied on downstream oil companies. Typically, the final burden is passed on to consumers. What does lower excise duty mean for petroleum refiners? It allows OMCs to trim their losses when global crude prices are high. Heres how it happens: The government absorbs part of the cost burden This eases retail cost pressure on OMCs, enabling them to keep buying crude oil In essence, it avoids supply disruptions What are windfall taxes? Windfall taxes are extra taxes imposed on companies when they earn unusually high profits. The goal is to discourage exports and, in turn, ensure sufficient domestic supplies.  Do Indian consumers have to worry about the energy situation? According to the government, there is no immediate reason to worry.  Is there going to be a lockdown? No. The government has assured the public that there will be no COVID era-like lockdowns because of this situation.  What should the public do?  Officials have time and again urged the public not to panic-buy or panic-book auto or cooking fuels. The government has categorically dismissed rumours about lockdown and fuel shortages, calling them baseless and misleading.