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India Cuts Fuel Taxes and Curbs Exports as Oil Crisis Deepens

OilPrice · Tsvetana Paraskova · last updated
India on Friday moved to protect its fuel supply and consumers by reducing domestic taxes on gasoline and diesel and imposing a levy on fuel exports. In view of the West Asia crisis, the central excise duty on petrol and diesel for domestic consumption has been reduced by 10 rupees ($0.11) per liter each, Finance Minister Nirmala Sitharaman said in a post on X today. “This will provide protection to consumers from rise in prices,” the minister added.  In addition, India also imposes duties on exports of diesel and jet fuel, at…
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