As the Center cuts excise duty on petrol and diesel amid rising tensions in West Asia, Congress MP Imran Masood on Friday criticized Prime Minister Narendra Modi’s belated response to crucial decisions, claiming that the country is stranded.
He warned that the situation was dangerous and that its consequences would be felt by everyone.
Speaking to ANI, Masood said, “The Prime Minister is waking up late. As decisions should have been taken on time, and as we were taking a neutral stance, we are stranded. We will have to bear the consequences. The situation is dire. People are worried. Commercial cylinders are not available. People are feeling very distressed.”
His statements come after the central government reduced customs duties on gasoline to $3 per liter and reduced to zero for diesel, as per the gazette notification issued under the provisions of the Central Excise Act, 1944. In addition, a windfall tax of $Imposing 21.5 pounds per liter on diesel exports
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The decision comes in the wake of escalating tensions in West Asia, especially the ongoing conflict between the United States, Israel and Iran, which has led to the closure of the Strait of Hormuz – a crucial route through which nearly a fifth of the world’s crude oil supplies pass. Before the crisis, India obtained about 12% to 15% of its oil imports through this route.
While the reduction in customs duties is expected to ease pressure on oil marketing companies facing losses due to rising crude oil prices, retail prices of petrol and diesel have remained unchanged so far.
The government confirmed that fuel supplies across the country remain stable.
The Ministry of Petroleum and Natural Gas confirmed, in an official statement, that “all retail outlets are operating normally throughout the country,” and that there are “sufficient stocks of gasoline and diesel available at all gasoline stations.” She also urged citizens not to engage in panic buying amid circulating rumors.
The officials added that the refineries are operating at high capacity with sufficient crude stocks, and domestic LPG production has been increased to meet demand.
