00:00India has announced a reduction in fuel taxes as global energy prices continue to rise aiming to
00:05shield consumers from increasing costs. Petroleum Minister Hardeep Singh Puri said authorities
00:11faced a difficult choice between raising fuel prices significantly or absorbing the financial
00:17impact to protect the public. As part of the move, petrol duties have been sharply reduced
00:22while taxes on diesel have been fully removed. The decision comes as global oil prices remain
00:27elevated, driven by supply concerns and ongoing geopolitical tensions affecting key energy routes.
00:33India, the world's third largest crude importer, relies heavily on international supply chains,
00:39with a significant portion of its oil passing through critical maritime corridors. Despite
00:44the challenges, officials say there is currently no shortage of fuel and existing reserves are
00:48sufficient to meet demand in the near term.
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