BREAKING: India Cuts Special Excise Duty To Zero From Rs 10 Per Litre To Help Oil Marketing Companies
On Friday, the government reduced the excise duty on petrol and diesel by Rs 10 per litre each, bringing the tax down to Rs 3 per litre on petrol and eliminating it on diesel. The action arrives amid a worsening global energy crisis sparked by the ongoing conflict between the US and Israel versus Iran, along with Tehran’s blockade of the Strait of Hormuz—a vital route transporting about a fifth of the world’s crude oil and gas supplies, estimated at 20–25 million barrels daily
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