Indian government denies post-election fuel price rise as oil climbs
India
Heard the buzz about gasoline and diesel prices going up after elections? The government just shut those rumors down.
Even though global oil prices are climbing, India's fuel rates are staying put for now.
Indian government cuts excise by ₹10/l
Oil companies like Indian Oil and Bharat Petroleum are actually losing money, up to ₹20 per liter on gasoline and ₹100 per liter on diesel, thanks to international price spikes caused by tensions in West Asia.
To help out, the government recently cut excise duty by ₹10 per liter.
This move is all about protecting consumers and keeping fuel prices stable, which haven't changed since April 2022.