India slashes fuel excise duties to combat rising oil prices.

India slashes fuel excise duties to combat rising oil prices. The government cut additional excise duty on petrol to three rupees per litre from thirteen rupees, while diesel duty dropped to zero from ten rupees per litre. This decision comes as crude oil prices surge above one hundred dollars per barrel due to US-Iran tensions disrupting Middle East energy infrastructure. The Strait of Hormuz blockade threatens ninety percent of India's crude imports. State-run oil marketing companies face annualised losses of nearly three trillion rupees at current price levels. While the duty cut won't directly lower pump prices, it reduces pressure on retailers to raise fuel costs immediately. Analysts warn retail prices may need to increase up to forty-three percent for diesel and nineteen percent for petrol to restore normal profit margins if crude prices remain elevated.