An Indian government-appointed panel has recommended that the government should cut customs duty on gasoline and diesel to 7.5 per cent from the current 10 per cent.

A panel headed by the chairman of the Prime Minister's Economic Advisory Council, C Rangarajan, suggested that prices of liquefied petroleum gas or cooking gas be raised by INR75 a cylinder.
Currently 14.2 kg of cylinder costs INR292 in Delhi.
Rangarajan submitted his report to the Petroleum Minister Murli Deora.
The panel also recommended restructuring of excise duties on gasoline and diesel.
'There will be no revenue implications for the government if the duty cuts are implemented,' Rangarajan said.
Rangarajan said the recommendations of the panel need to be implemented quickly as a delay would 'impair the financial viability of oil companies and impair India's energy security as a whole, in the long term”.
Petroleum and Natural Gas Minister Murli Deora said the government will study the panel's report in detail before implementing any of its recommendations.
The Rangarajan panel was formed by the government recently to suggest ways and means of cushioning the impact of high global oil prices on domestic state-run oil marketing companies.
The state oil companies, on government's direction, sell diesel, gasoline, LPG and kerosene at a discount to their market prices.
They have suffered heavy losses in the first three quarters of the current financial year to March due to selling the four products lower than their market price and directly bearing the burden of oil product subsidies.
'Give us some time to consider the proposals,' said Deora, when asked about the government time frame for implementing the proposals.
The panel's recommendation are not binding on the government.