India has reduced its fuel duty, lowering the special additional excise duty on petrol to Rs 3 per litre and removing it entirely on diesel. This move comes amid global oil supply disruptions and follows a price hike by Nayara Energy.
Key takeaways
Quick scan — what you need to know:
- India has reduced its fuel duty, lowering the special additional excise duty on petrol to Rs 3 per litre and removing it entirely on diesel.
- This move comes amid global oil supply disruptions and follows a price hike by Nayara Energy.
- Crude prices retreated as US-Iran negotiations showed progress.
Background
What led here, in plain terms:
- This move comes amid global oil supply disruptions and follows a price hike by Nayara Energy.
- Crude prices retreated as US-Iran negotiations showed progress.
Why it matters
Why readers and decision-makers should care:
- Crude prices retreated as US-Iran negotiations showed progress.
- India has reduced its fuel duty, lowering the special additional excise duty on petrol to Rs 3 per litre and removing it entirely on diesel.
- This move comes amid global oil supply disruptions and follows a price hike by Nayara Energy.