The Centre had on November 3, 2021, announced a reduction in excise duty on petrol by ₹5 a litre and on diesel by ₹10 a litre. This was expected to boost consumption, mitigate inflation, and bring down input costs for farmers and businesses. Since private fuel dealers of Reliance Industries-BP Plc and Nayara Energy have been facing a rationing of fuel, they said losses this time were lesser than November as they did not have much fuel to stock up.
