New Delhi, May 30 -- Union Minister for Petroleum and Natural Gas, Hardeep Puri on Friday highlighted how is India able to keep prices for oil in control through calibrated policy measures, including excise duty cuts and collaboration with state governments on VAT reductions.

Puri mentioned that the government had reduced the cess on petrol and diesel in November 2021 and May 2022, leading to price reductions of Rs 13 and Rs 16 per liter, respectively. He attributed this to the combined efforts of the central and state governments in reducing taxes.

"The excise duty shares are imposed by govt...twice we reduced the Cess in November 2021 and May 2022, state govt also reduced their VAT, and that's why we were able to reduce the price of p...