The Ministry of Finance announced on Saturday that India has eliminated the special additional excise duty on petrol exports while raising export levies on diesel and aviation turbine fuel (ATF).
Petrol shipments will now leave the country duty‑free, ending the Rs 2.50 per litre charge that had been in place since October.
For diesel, the export duty climbs to Rs 11.50 per litre, up from Rs 8.50. The ATF levy moves to Rs 11 per litre, a slight rise from Rs 10.50.
These adjustments are part of the government's fortnightly review of fuel export duties, a mechanism designed to react to swings in global crude and refined‑product prices.
The latest move reverses part of the October revision, when the petrol export duty was lifted to Rs 2.50 from Rs 0.50 and diesel duty was cut to Rs 8.50 from Rs 16 per litre.
Export levies were first reinstated in March after Middle‑East tensions sent crude prices soaring and disrupted traditional supply routes.
Officials said the taxes aim to safeguard domestic fuel availability by discouraging refiners from sending more product abroad when export margins look higher.
Disruptions in shipping through the Strait of Hormuz, a key conduit for India's crude imports, heightened security concerns and prompted refiners to diversify sourcing and keep a tighter watch on export commitments.
Image: mangalorean.com
📰 Source: Mangalorean News