Business & Finance

Reuters reveals India’s finance ministry considering cutting taxes on petrol, diesel; market reacts

Shares of Indian fuel retailers surged after Reuters exclusively reported that the government is considering a cut in taxes to ease the pain of rising global oil prices. Gasoline and gasoil in India are heavily taxed, with retail prices hovering at record high in some states.

Market Impact

Key fuel retailers – Indian Oil Corp, Hindustan Petroleum Corp Ltd and Bharat Petroleum Corp – rose as much as 3.4% to 6% on the news.

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & FinanceCommodities & EnergyEquities
Regions: Asia
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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