Brent near $106 as India cuts diesel duty, raises petrol levy
In short
Brent crude stayed near $106 a barrel. India cut the special extra tax on diesel and raised the tax on petrol.
The report also said IT stocks could reach record highs over the next year, and Tech Mahindra jumped 7% after its quarterly results. The exact effect on fuel prices is not stated.
What the reporting says
Brent crude held near $106 a barrel as India cut the special additional excise duty on diesel and raised it on petrol, according to a CNBC TV18 Business summary. The report also said IT stocks could hit record highs over the next year and that Tech Mahindra rose 7% after quarterly results. It is not stated how long the tax changes will last or how the oil move will affect local fuel prices.
Why it matters
The story combines a crude oil price update with a tax move in India and a stock-market view on IT shares. Brent remained near $106 a barrel, while the government cut the special additional excise duty on diesel and increased it on petrol. The source also says Tech Mahindra gained 7% after Q2 results and that IT stocks may hit record highs over the next year, but it does not provide a policy rationale or full market context.