04/04/2026
India stands out in the data with relatively stable fuel price movement compared to many countries that saw sharp increases. This is largely due to the Indian government’s active intervention through excise duty cuts and controlled pricing policies. Under the Modi government, fuel taxes were reduced at key points to ease pressure on consumers, and public sector oil companies absorbed part of the volatility. India also benefits from diversified crude sourcing, including discounted imports, which helps manage cost fluctuations. These measures have helped limit the impact of global fuel price shocks on the domestic market.
