Cheaper crude gives room for excise duty hike, fuel price cut

The drop in oil prices offers the Indian government an opportunity to raise excise duty, partly absorbing fuel retailers' profits. This could result in moderate reductions in petrol and diesel prices, helping curb inflation. The government must decide whether to enhance fiscal revenues or pass savings on to consumers.

Sep 24, 2024 - 23:30

Cheaper crude gives room for excise duty hike, fuel price cut

Join our WhatsApp Community to receive travel deals, free stays, and special offers!
- Join Now -

The drop in oil prices offers the Indian government an opportunity to raise excise duty, partly absorbing fuel retailers' profits. This could result in moderate reductions in petrol and diesel prices, helping curb inflation. The government must decide whether to enhance fiscal revenues or pass savings on to consumers.