Amid escalating tensions in West Asia, the Indian government has constituted a high-level Inter-Ministerial Group to closely monitor developments and assess their impact on the country’s energy security and economy.
The panel is being led by Defence Minister Rajnath Singh and includes key members such as Home Minister Amit Shah, Finance Minister Nirmala Sitharaman, and Petroleum Minister Hardeep Singh Puri, along with other senior officials.
The move comes in response to intensifying geopolitical tensions involving the United States, Israel, and Iran, which have disrupted global energy supply chains. A major concern has been the blockade of the Strait of Hormuz, a vital route responsible for transporting nearly 20% of the world’s crude oil.
India, which previously sourced around 12–15% of its oil imports through this corridor, is now facing pressure on fuel supplies, particularly LPG. The government has initiated multiple measures to stabilise the situation and prevent supply disruptions.
As part of its response, the Centre has recently reduced excise duty on petrol to ₹3 per litre and eliminated it on diesel. Additionally, a windfall tax of ₹21.5 per litre has been imposed on diesel exports to manage domestic availability.
The government has also revised taxation on Aviation Turbine Fuel (ATF), introducing a special excise duty of ₹50 per litre. However, exemptions have been provided to cap the effective rate at ₹29.5 per litre in certain cases, offering relief to the aviation sector.
Meanwhile, the Ministry of Petroleum and Natural Gas has reassured the public that fuel supplies remain stable across the country. In an official statement, it confirmed that all petrol pumps are operating normally and that there are adequate stocks of petrol and diesel available.
Authorities have also urged citizens to avoid panic buying, stating that reports of shortages are unfounded and that the situation is being closely monitored at the highest level.
Originally published on 24×7-news.com.
