Petrol Diesel Latest Update: Has petrol and diesel become cheaper in your city from today 1st June? What has changed for you after the government reduced export duty on petrol, diesel and ATF? Has this cut brought relief to you or not?
Fuel Price News: Today the new month has started from 1st June and early in the morning a big order from the government has come regarding oil prices. The government has reduced the tax on petrol and diesel. But is this a matter of relief for you, is it going to benefit you and fuel rates will reduce? Know what has changed at your petrol pump due to this decision from this morning and what effect it is going to have on your pocket…
Which tax has the government reduced on petrol and diesel?
The government has reduced the export duty on petrol, diesel and ATF. This is the same tax that companies have to pay when they sell (export) oil to other countries outside India. In view of the ongoing tension in West Asia and the global market environment, the government has given this big relief to Indian companies selling oil.
How much has the export duty on fuel reduced?
The government reviews this tax every 15 days. According to the new rates which have come into effect today from June 1, the tax on petrol has been reduced to half (50%). Earlier it was ₹3 per litre, which has now come down to ₹1.5 per litre. Tax on diesel has been reduced from ₹16.5 to ₹13.5 per litre, i.e. a reduction of ₹3. Tax on aviation fuel (ATF) has also been reduced from ₹16 to ₹9.5 per litre.
Why did the government reduce the duty on fuel?
In March 2026, when the tension between Iran and America increased, the government had imposed this tax so that the country’s companies do not sell all the oil outside and there is no shortage of oil in our own country. Now that the situation in the foreign market is a little better, the tax on sending oil abroad has been reduced so that Indian refining companies like Reliance and others can get good profits.
Has petrol and diesel become cheaper in your city due to this decision?
The rates of petrol and diesel have not changed due to this decision, which means you are not going to benefit. The government has made it clear that there has been no change in the excise duty on petrol and diesel sold within the country. This means that the rates which were there yesterday in cities like Delhi, Mumbai, Kolkata or Chennai will remain the same today also.
Will this not be of any benefit to the general public?
Even though there has been no direct reduction in money for the common man since this morning, this decision has far reaching implications. The financial condition of oil companies will improve due to reduction in tax burden. If crude oil prices fall in the international market in the coming days, then oil companies may consider reducing domestic prices.