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Wednesday, January 08, 2025 | 06:37 PM ISTEN Hindi

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Why are fuel prices in India high even though crude oil prices are lower?

Excise duty and additional taxes are estimated to fetch the government about Rs 2.5 trillion in the year ending March 2019

Fuels, petrol, diesel
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Saket Sundria and Debjit Chakraborty | Bloomberg
With rising crude prices still at half their record high, drivers in much of the world are still enjoying pain-free visits to the pump. That’s not the case in India, where diesel, the most-used fuel, is more expensive than ever before, and gasoline prices also are hovering around record levels in several cities. India lifted controls on diesel pricing four years ago, after freeing gasoline rates first. But with federal elections next year and several state elections in the coming months, the government is feeling the pressure to restore a lid on fuel prices. None of its options are particularly

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