India to review petrol, diesel prices bi-weekly
With global oil prices climbing due to the West Asia conflict, the Indian government is switching things up: petrol and diesel prices will now be reviewed every two weeks.
Vivek Chaturvedi from the Central Board of Indirect Taxes and Customs (CBIC) called this a calibrated move that keeps an eye on both imports and what's happening at home.
Excise duty cut on petrol
To help out during these price hikes, the government has slashed excise duty on petrol by ₹10 per liter (now ₹11.90).
While this won't lower pump prices right away, it's meant to ease pressure overall.
Plus, domestic liquefied petroleum gas (LPG) production is up nearly 40%, and there's a new phased supply plan making sure key industries like steel and autos keep running smoothly, even with all the global uncertainty.