News > Govt May Cut Excise Duty As Crude Oil Crosses $100/Barrel Mark

Govt May Cut Excise Duty As Crude Oil Crosses $100/Barrel Mark

Crude oil directly affects India’s retail price inflation as it jacks up the transport fuel prices. The government may once again cut excise duty on petrol and diesel in order to check the probable spike in prices of commodities. Crude Oil Crosses $100 Mark. 

This spike is expected to come in response to a sharp rise in crude oil prices due to the Russia-Ukraine war.