Fuel excise cut positive for oil & gas, automobiles, India logistics, says Motilal Oswal
Updated: 23 May 2022, 11:20 AM IST
- Fuel prices have jumped sharply since the beginning of the Ukraine war and in order to ease inflation, the Finance Minister of India on May 21 announced the cut on excise duty on petrol and diesel by ₹8 and ₹6 per liter, respectively.
Brokerage firm Motilal Oswal Financial Services pointed out that the excise duties are always passed on to consumers. As a result, oil marketing companies (OMCs) have cut down prices of petrol and diesel accordingly. Photo: Reuters.