Highlights India cuts excise duties on gasoline and diesel Inflation, based on CPI, hits an 8-year high in April Dated Brent to average $103/b in 2022: Platts Analytics From cutting taxes on retail oil products to scouting around for attractive term crude deals, India is stepping up efforts to ensure that surging world prices do not stand in the way of the fragile economic recovery as well as a revival in domestic oil product consumption. Not registered? Receive daily email alerts, subscriber notes & personalize your experience. Register Now Government officials in India said they believe that current oil prices were not sustainable over the longer term, but they were also unanimous in their view that it was crucial to implement fiscal measures now to ensure that inflation stays under control, instead of waiting for oil prices to cool. “Oil prices are a big concern for the government and […]