Government cuts fuel taxes to shield consumers from rising prices
India
The Indian government just dropped excise duties on gasoline and diesel by ₹10 per liter, hoping to shield people from rising global oil prices sparked by Middle East tensions.
While this move means the government will lose about ₹1.75 lakh crore in revenue, it's aimed at stopping sudden price hikes at the pump.
Export duties on diesel and ATF reinstated
To make sure there's enough fuel at home, export duties on diesel and aviation turbine fuel (ATF) are back: ₹21.5 per liter for diesel and ₹29.5 for ATF.
Despite all these shifts, gasoline and diesel prices in Delhi are holding steady at ₹94.77 and ₹87.67 per liter.
Finance Minister Nirmala Sitharaman says the goal is simple: protect consumers from global price swings while keeping essential fuels available across the country.