India cuts fuel taxes amid rising US-Iran tensions
Business
With tensions rising between the US and Iran, India just announced a quick cut in fuel taxes.
Starting now, there's no extra duty on gasoline at all, and high-speed diesel's special additional excise duty has been set at ₹3 per liter; another diesel category is subject to an effective duty of ₹18.5 per liter.
The cuts were announced amid tensions between the US and Iran.
ATF standard duty set at ₹50 per liter
High-speed diesel gets an additional ₹3 per liter excise duty, while diesel will attract a duty of ₹18.5 per liter in one category.
For aviation turbine fuel (ATF), the standard duty is set at ₹50 per liter, but can go down to ₹29.5 with certain exemptions.