Congress slams PM's 'delayed' response to West Asia fuel crisis

Congress MP Imran Masood slammed PM Modi's 'delayed response' to the West Asia crisis after the Centre cut excise duty on petrol and diesel. He warned the situation is dire, while the government has assured that fuel supplies remain stable.

Congress Slams 'Delayed' Response to Fuel Crisis

As the Centre slashes excise duty on petrol and diesel amid the escalating tensions in West Asia, Congress MP Imran Masood on Friday criticised Prime Minister Narendra Modi's delayed response to crucial decisions, claiming the country had been left stranded. He warned that the situation was dire and the consequences would be felt by all.

Speaking to ANI, Masood said, "The Prime Minister is waking up late. Where decisions should have been made on time, and where we were leading a neutral stance, we have been left stranded. We will have to bear the consequences. The situation is dire. People are worried. Commercial cylinders are unavailable. People are very distressed."

Government Slashes Excise Duty on Fuel

His remarks come after the central government reduced excise duty on petrol to Rs 3 per litre and brought it down to zero for diesel, as per a Gazette notification issued under the provisions of the Central Excise Act, 1944. Additionally, a windfall tax of Rs 21.5 per litre has been imposed on diesel exports.

West Asia Tensions Rattle Oil Markets

The decision follows escalating tensions in West Asia, particularly the ongoing conflict involving the United States, Israel, and Iran, which has led to a blockade of the Strait of Hormuz--a crucial route that handles nearly one-fifth of the world's crude oil supply. Before the crisis, India sourced around 12-15% of its oil imports through this route.

Ministry Assures Public of Stable Supplies

While the duty cut is expected to ease pressure on oil marketing companies facing losses due to surging crude prices, retail prices of petrol and diesel have remained unchanged so far. The government has maintained that fuel supplies across the country remain stable.

The Ministry of Petroleum and Natural Gas, in an official statement, assured that "all retail outlets are operating normally across the country" and that there are "adequate stocks of petrol and diesel available at all petrol pumps." It also urged citizens not to engage in panic buying amid circulating rumours. Officials added that refineries are functioning at high capacity with sufficient crude inventories, and domestic LPG production has been ramped up to meet demand.

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)