Government hikes export duty on diesel to Rs 15.5/litre, ATF to Rs 14.5/litre
The Indian government has significantly increased export duties on diesel and aviation turbine fuel while lowering the duty on petrol. This fiscal adjustment is a response to rising global crude oil prices driven by the escalating conflict between the US and Iran.
Why it matters
Changes in export duties reflect the economic impact of geopolitical instability on national energy policies and trade balances.
NEW DELHI: The government on Wednesday hiked windfall taxes on the exports of diesel and aviation turbine fuel as crude oil prices rose amid the ongoing crisis in the Middle East between the US and Iran.According to news agency Reuters, the duty on diesel exports has been raised to Rs 15.5 per litre from Rs 8.5 per litre, while the duty on aviation turbine fuel has been increased to Rs 14.5 per litre from Rs 7.5 per litre.Meanwhile, the export duty on petrol has been lowered to Rs 2.5 per litre from Rs 4 per litre.This comes as crude oil prices surged after hostilities between the United States and Iran restarted this week.US President Donald Trump reimposed a naval blockade on all Iranian ports, and Iran launched retaliatory strikes on US infrastructure in the region.Get the latest business news and top stories. Download the TOI App.Ready to Make a Smarter Property Decision? Build Your Legacy with TOI Homes.
The article reports on government policy changes and their economic drivers without taking a political stance.
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