New Delhi, March 27 (AHN) The Congress party on Friday said that the excise duty cut on petrol and diesel offers no real relief to the common people and accused the government of fooling people with headlines suggesting a price reduction.

The party stated that if people saw reports about petrol and diesel prices “coming down” and assumed it would ease their expenses, they would be mistaken, as prices remain unchanged for both dealers and consumers.

Congress leader Pawan Khera took to social media platform X and said, “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 for consumers."

He further explained, “What has actually been reduced is the ‘special additional excise duty’ - a levy paid by Oil Marketing Companies to the government. The words ‘special’ and ‘additional’ reveal how unnecessary this tax is."

Khera added that Oil Marketing Companies have been absorbing losses since the outbreak of the conflict in West Asia.

"The Oil Marketing Companies have been absorbing losses since the outbreak of the conflict in West Asia. The government has now merely agreed to share a small part of that burden but reducing the 'special additional' levy - that too almost a month later. Relief exists but only in the narrative - not in reality. Instead of manufacturing headlines and fooling people, the government should focus on delivering actual relief to consumers," he said.

Meanwhile, the government slashed excise duties on petrol and diesel by Rs 10 per litre each, bringing them down to Rs 3 per litre for petrol and zero for diesel, in a move aimed at cushioning the impact of surging global oil prices.

The government has also provided exemptions on duties for fuel exports and supplies to foreign-going aircraft.

Separately, the Centre has rescinded an earlier 2022 notification and granted customs duty relief on imported aviation turbine fuel (ATF).

The reduction comes amid fears of a price hike due to the global energy crisis, triggered by the US-Israel conflict with Iran and the resultant blockade of the Strait of Hormuz.

Oil marketing companies (OMCs) are expected to absorb the reduction to offset mounting losses. OMCs are currently estimated to be incurring losses of around Rs 48.8 per litre on fuel sales, largely due to elevated global crude prices.

Meanwhile, global oil prices declined, with Brent crude futures falling 2.29 per cent to $105.53 per barrel. US WTI futures also dropped 2.54 per cent to $92.08 as of 8.50 a.m.

The government on Thursday categorically stated that India's petroleum and LPG supply situation is fully secure and under control, calling upon citizens not to be misled by a "deliberately mischievous, coordinated campaign of misinformation" that is being carried out to spread unjustified panic.