Government To Consider Cutting Taxes On Retail Fuel | Business News

A cut in excise duty could have a negative impact on the financials of OMCs as they would have to book an inventory loss. Indian Government is looking to cut the excise duty on petrol and diesel to curb the inflation which stands at a 15-month high of 7.44%.
The last time excise duty was cut was in May 2022, when inflation was at an 8-year high of 7.79% in April 2022. The cut in fuel taxes could help cool retail inflation and a reduction in fuel prices will reduce logistics costs as well.
The cut in taxes could also have a negative impact on city gas distribution companies as the prices of competing fuels would fall and if CGD lower gas prices, the same could have an impact on their margins.

#fuelexciseduty #businessnews #fuelprice
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