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Excise duty on petrol, diesel reduced as crude prices rise

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oil

The Indian government has reduced special excise duty on petrol and diesel amid rising global crude prices. The decision comes as tensions in West Asia continue to disrupt global oil supply chains, with tanker movement through the Strait of Hormuz remaining constrained.

  1. Duty cut aimed at offsetting impact of rising crude prices
  2. Retail fuel prices may not see immediate reduction
  3. India imports over 90 percent of its crude requirement


from Autocar India https://ift.tt/lQtVvj1

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