India has cut the special additional excise duty on petrol and diesel to ₹3 per litre and zero, respectively, accoridng to government order dated Thursday.
In a series of late-night notifications, the Ministry of Finance announced that the special additional excise duty and additional excise duty on petrol have been cut to “Nil”. For diesel, the government set the SAED at ₹18.5/litre and the additional excise duty at ₹3/litre.
These measures, effective immediately, arrive as brent crude remains volatile near $100 a barrel, having recently touched peaks of $119 following military strikes on Iranian infrastructure.