Government has imposed export duties on diesel and aviation turbine fuel (ATF) and cut domestic levies on petrol and diesel to ensure adequate availability and protect consumers from rising global oil prices triggered by the West Asia crisis.
Adressing the Inter-Ministerial Briefing on Recent Developments in West Asia, Chairman of the Central Board of Indirect Taxes and Customs Vivek Chaturvedi said that the purpose of these changes is to prioritise domestic availability of diesel and aviation turbine fuel while ensuring energy security for the country amid global uncertainty and supply chain disruptions. He noted that duties have been imposed on diesel, while duties on petrol are linked to current crack margins and will be reviewed fortnightly through a government mechanism. He said that the government’s response has been very calibrated, and it introduced certain export duties in the form of Special Additional Excise Duty (SAED) and Road and Infrastructure Cess (RIC). He emphasized that the objective is to prioritise domestic availability of diesel and ATF and ensure energy security at a time of global uncertainty, exacerbated by supply chain disruptions and volatile international markets.
Joint Secretary of the Ministry of Petroleum and Natural Gas Sujata Sharma said that India currently has sufficient crude inventories, with supplies secured for the next two months, and that LPG and PNG availability remains comfortable. She added that refineries are operating at full or higher capacity, while domestic LPG production has increased by nearly %. Highlighting import dependence, she said nearly 90% of LPG supplies were earlier routed through the Strait of Hormuz, prompting the government to prioritise domestic consumers. The Secretary further noted that commercial LPG supplies were initially curtailed and then restored in phases, from 20% to 50%, and now 70%. She added that around 30 lakh tonnes of LPG have been supplied to commercial consumers since March 14.
Special Secretary in the Ministry of Ports, Shipping and Waterways, Rajesh Kumar Sinha, said that in the last 24 hours, 25 Indian nationals have been safely repatriated to India after sign-off from various parts of the Gulf region. He said that there has been no information in the last 24 hours regarding any Indian-flagged vessel or Indian seafarer being affected in the Gulf region and assured that all are safe.
External Affairs Ministry Spokesperson Randhir Jaiswal said that India’s conversation with global partners is going on. He said External Affairs Minister Dr S. Jaishankar is presently visiting France to attend the G7 Foreign Ministers’ Meeting. Mr Jaiswal said that on the sidelines of the G7 meeting, Dr Jaishankar held several meetings with his counterparts from participating countries, and aside from bilateral ties, the leaders also discussed the ongoing developments of West Asia. He noted that in his address at the G7 Foreign Ministers’ Meeting, Dr Jaishankar specifically raised the global south’s concerns about energy challenges, fertilizer supplies and food security and also conveyed the uncertainties arising from the conflict in West Asia.
External Affairs Ministry’s Additional Secretary (Gulf) Aseem R. Mahajan assured that the government is closely monitoring the developments in the Gulf and West Asia region. He added that the security and welfare of the large Indian community in the region are the highest priorities of the government. He mentioned that a dedicated control room is operational to assist the Indian nations.
