India Reduces Customs Duties on Petrol, Diesel, Imposes Unexpected Taxes on Fuel Exports ...Yemen

The Indian government has reduced customs duties on petrol and diesel to protect consumers and curb potential inflation, in a move aimed at easing pressure on domestic fuel prices amidst global market volatility resulting from the US-Israeli war against Iran. The Ministry of Finance announced a reduction in the excise tax on petrol to 3 rupees per liter from 13 rupees and a reduction in the tax on diesel to zero from 10 rupees, while imposing unexpected taxes. Exports of jet fuel and diesel are expected to be cut to ensure the availability of these products domestically, according to Reuters on Friday.

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