Long queues seen before petrol pumps in Belagavi. FIle | Photo Credit: The Hindu India cut the special additional excise duties on petrol and diesel to ₹3 ($0.0318) per litre and zero, respectively, according to a government order dated Thursday (March 26, 2026). Oil prices fell on Friday (March 27, 2026) after Donald Trump again pushed back a deadline for Iran to reopen the Strait of Hormuz, though most equities also dropped as traders shrugged at the news following a series of conflicting messaging from the White House. The U.S. president had warned last Saturday he would obliterate the Islamic republic’s energy sites if it did not unblock the crucial waterway within 48 hours, but pushed that back five days citing positive peace talks, which Tehran denied had taken place. (Will be updated later with more inputs) Published – March 27, 2026 09:12 am IST Share this: Click to share on WhatsApp (Opens in new window) WhatsApp Click to share on Facebook (Opens in new window) Facebook Click to share on Threads (Opens in new window) Threads Click to share on X (Opens in new window) X Click to share on Telegram (Opens in new window) Telegram Click to share on LinkedIn (Opens in new window) LinkedIn Click to share on Pinterest (Opens in new window) Pinterest Click to email a link to a friend (Opens in new window) Email More Click to print (Opens in new window) Print Click to share on Reddit (Opens in new window) Reddit Click to share on Tumblr (Opens in new window) Tumblr Click to share on Pocket (Opens in new window) Pocket Click to share on Mastodon (Opens in new window) Mastodon Click to share on Nextdoor (Opens in new window) Nextdoor Click to share on Bluesky (Opens in new window) Bluesky Like this:Like Loading... Post navigation Hyderabad’s rapid urban expansion: Resetting the lines of control Oil drops as Trump pauses Iran strikes, but stock traders nervous