India raises windfall tax on petrol, cuts duty on diesel
The Indian government has adjusted its windfall tax policy, increasing the export duty on petrol while significantly reducing the duty on diesel. These changes, effective October 16, are part of a periodic review process linked to international crude oil price fluctuations.
Why it matters
Windfall tax adjustments directly influence fuel export profitability and reflect the government's strategy for managing energy market volatility.
India raises windfall tax on petrol, cuts duty on diesel left Representational image Getty Images/iStockphoto Getty Images/iStockphoto https://th-i.thgim.com/public/news/national/tg0lia/article71590969.ece/alternates/FREE_1200/iStock-1387607077.jpg ajijchan Illustration of the nozzle of a fuel pump with stacks of Indian currency coins. Concept for increasing fuel price The export duty on petrol was raised to ₹2.5 ($0.0263) per litre from ₹0.5 per litre, while the duty on diesel exports was cut to ₹8.5 per litre from ₹16 per litre, effective October 16, the order said.
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