Brief by Shorts91 Newsdesk / 06:29am on 27 Mar 2026,Friday India
The Indian government has sharply reduced excise duties on fuel, cutting petrol tax from ₹13 to ₹3 per litre and eliminating diesel duty entirely from ₹10. The move comes amid rising global crude oil prices and supply disruptions linked to the ongoing West Asia conflict, particularly around the Strait of Hormuz. The decision aims to shield consumers from price shocks and support oil marketing companies facing heavy losses. However, despite the tax cuts, fuel prices at the pump may not immediately decrease, as the benefit is likely to offset industry losses rather than directly reduce retail rates.
