New Delhi, March 27 (NationPress) The Congress party expressed skepticism on Friday regarding the government's excise duty reduction on petrol and diesel, stating that it does not provide any substantial relief to the general populace. They accused the administration of misleading citizens with headlines that imply a decrease in prices.

According to the party, those who interpret reports of declining petrol and diesel prices as a means to lessen their financial burden are mistaken, as the prices for both dealers and consumers have remained static.

Congress spokesperson Pawan Khera took to the social media platform X, stating, “If you saw the headlines about petrol and diesel prices ‘coming down’ and thought the government had offered relief to your pocket - you’d be mistaken. As of now, prices remain the same for dealers and consumers.”

Khera elaborated, “What has actually been lowered is the ‘special additional excise duty’ - a tax that Oil Marketing Companies pay to the government. The use of the terms ‘special’ and ‘additional’ highlights the unnecessary nature of this tax.”

He further noted that Oil Marketing Companies have faced financial losses since the onset of the conflict in West Asia.

“These companies have been absorbing losses since the conflict in West Asia began. The government has only agreed to share a small portion of that burden by reducing the 'special additional' levy—almost a month later. Relief exists but only in the narrative, not in reality. Instead of fabricating headlines and deceiving the public, the government should prioritize delivering genuine assistance to consumers,” he stated.

In contrast, the government announced a cut in excise duties on petrol and diesel by Rs 10 per litre each, reducing them to Rs 3 per litre for petrol and zero for diesel, in a bid to mitigate the impact of escalating global oil prices.

Additionally, exemptions on duties for fuel exports and supplies to foreign-going aircraft have been granted.

Separately, the Centre has revoked a prior 2022 notification and provided customs duty relief on imported aviation turbine fuel (ATF).

This reduction comes amid concerns of potential price hikes due to the global energy crisis, stemming from the US-Israel conflict with Iran and the subsequent blockade of the Strait of Hormuz.

Oil marketing companies (OMCs) are projected to absorb the reduction to counterbalance their increasing losses, which are currently estimated at around Rs 48.8 per litre on fuel sales, primarily because of high global crude prices.

Meanwhile, global oil prices have fallen, with Brent crude futures decreasing by 2.29% to $105.53 per barrel, and US WTI futures dropping by 2.54% to $92.08 as of 8:50 a.m.

The government reiterated on Thursday that India's petroleum and LPG supply situation is secure and stable, advising citizens against being misled by a “deliberately mischievous, coordinated campaign of misinformation” aimed at creating unjustified panic.