Windfall Tax Cut Fails to Lower Fuel Prices in India

The Indian government has reduced the windfall tax on petroleum products by cutting the Special Additional Excise Duty (SAED) on petrol to zero. However, this move has not led to any significant changes in domestic retail fuel prices, with rates remaining largely unchanged across the country.

According to the latest price revision issued by state-owned oil marketing companies, petrol is still selling at ₹102.12 per litre in Delhi, while diesel is priced at ₹95.20 per litre. The tax cut has had a minimal impact on fuel prices in major cities like Mumbai, Kolkata, and Bengaluru.

The global crude market continues to influence fuel pricing trends in India, with Brent crude trading at around $88.52 per barrel and WTI crude hovering near $82.40 per barrel. Despite the tax revision, there has been no immediate impact on retail petrol and diesel rates.