By Kimberley Kao
India has cut taxes on petrol and diesel as global oil prices remain elevated, with no end in sight for the Middle East conflict.
"In view of the West Asia crisis, the central excise duty on petrol and diesel for domestic consumption has been reduced by 10 rupees per litre each," equivalent to 11 cents, Nirmala Sitharaman, India's minister of finance, said in a post on X on Friday.
"This will provide protection to consumers from rise in prices," Sitharaman said.
In addition, India has moved to impose duties on exports of diesel and aviation turbine fuel, to ensure adequate supply for domestic use, the minister said.
"Export tax has been levied as international prices of petrol and diesel have skyrocketed and any refinery exporting to foreign nations will have to pay export tax," Hardeep Singh Puri, India's minister for petroleum and natural gas, said in a post on X.
Write to Kimberley Kao at kimberley.kao@wsj.com
(END) Dow Jones Newswires
03-27-26 0144ET
