REGULATORY · MARKET STRUCTURE · INDIA
India cuts excise on petrol and diesel
Change
India cut the Special Additional Excise Duty on petrol and diesel by ₹10 per litre each.
Why it matters
The cut lowers the excise on petrol to ₹3/litre and on diesel to nil, shifting a fiscal revenue shortfall onto the government. It reduces oil-marketing companies' immediate per-litre losses but does not obligate retailers to cut pump prices, so consumer prices may remain unchanged.
Implications
- · Central government excise revenue decreases by ₹10 per litre on fuel sales.
- · Oil-marketing companies face reduced per-litre losses, easing their immediate fiscal strain.
Who is affected
- · Oil-marketing companies
- · Refiners and exporters
- · Central government finance authorities
Source
Topics
Regulatory & Compliance Policy & Regulation Business & Markets Economy Energy & Power Oil & Gas