India raises petrol export duty fivefold to Rs 2.5/litre, cuts diesel levy to Rs 8.5
The Indian government has adjusted export duties on petroleum products, increasing the levy on petrol while reducing it for diesel. These changes are part of a fortnightly review process intended to manage domestic supply and windfall profits amid global crude oil price fluctuations.
Why it matters
These fiscal adjustments directly impact the energy sector and reflect the government's strategy to balance domestic fuel availability with international market volatility.
NEW DELHI: The government has raised the export duty on petrol fivefold to Rs 2.5 per litre from Rs 0.5, while cutting the levy on diesel to Rs 8.5 per litre from Rs 16. The revised rates came into effect on October 16.The export duty on aviation turbine fuel (ATF) remains unchanged at Rs 10.5 per litre, according to a finance ministry notification issued on Friday.The revised rates cover the Special Additional Excise Duty (SAED), with no road and infrastructure cess (RIC) applicable on exports of petrol, diesel and ATF. The changes follow the previous revision, which took effect on October 1.Export duties on the three petroleum products are reviewed every fortnight, with rates determined by average international prices of crude oil and the respective fuels during the period since the last review.
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