India cuts fuel taxes, state-owned oil marketing company stocks rise

MaticHoleFiller · 2026-03-28T10:21:21+00:00

The Indian federal government has reduced taxes on gasoline and diesel to ease the impact of rising crude oil prices on refining companies. This adjustment supported retail stocks to rise in early trading, with Indian Oil and Bharat Petroleum shares increasing by 4% and 4.9%, respectively.

MaticHoleFiller

2026-03-28 10:21:21

Abstract generation in progress

The Indian federal government has cut taxes on diesel and gasoline to cushion the impact of soaring crude oil prices on refining companies, leading to a rise in the stock prices of the country’s state-owned fuel retailers during early trading. According to a government announcement, India has reduced the special additional excise duty on gasoline from 13 rupees per liter to 3 rupees, and the special additional excise duty on diesel from 10 rupees per liter to zero. This move aims to support refining companies, which have largely absorbed the cost pressures from rising crude oil prices until now. Hindustan Petroleum’s stock price rose by as much as 4%; Bharat Petroleum’s increased by up to 4.9%, although most of the gains subsequently narrowed.

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Editor: Wang Yongsheng

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