Petrol-Diesel Tax Cut: Why Now? Petroleum Minister Explains Government's Rationale

• Central government reduced SAED on petrol from ₹13 to ₹3 per liter and on diesel from ₹10 to 'zero'.
• New taxes imposed: ₹21.5 per liter on diesel exports and ₹29.5 per liter on ATF exports.
• Petroleum Minister Hardeep Singh Puri stated the government chose to bear the financial burden to protect citizens from soaring global oil prices.
• International crude oil prices surged from $70 to $122 per barrel in one month, causing global price hikes.
• The government reduced tax revenue to offset oil companies' losses (₹24/liter on petrol, ₹30/liter on diesel) and ensure domestic availability.