India Cuts Export Duties on Petrol, Diesel, ATF from June 1
Gujarat Refinery export terminal in India under daylight.
Key Highlights
India slashes export duties on petrol, diesel, and ATF from June 1. New rates to be reviewed fortnightly based on global oil prices.
India Reduces Fuel Export Duties Amid Global Price Flux
India has announced a significant reduction in export duties on key petroleum products, including petrol, diesel, and aviation turbine fuel (ATF), effective June 1. This strategic adjustment reflects the government’s ongoing effort to recalibrate its energy taxation policies in response to the volatile international crude oil and refined fuel markets.
Revised Rates for Petrol, Diesel, and ATF
Under the new directives, the export duty for petrol will be set at 1.5 rupees per litre. For diesel, exporters will now face a duty of 13.5 rupees per litre. Aviation turbine fuel (ATF) will see its export duty adjusted to 9.5 rupees per litre, according to the latest notification.
Fortnightly Review Mechanism in Place
These revisions are part of India’s established mechanism for regularly assessing and modifying export duties. The rates are subject to fortnightly reviews, ensuring that they remain responsive to prevailing international crude oil and fuel price trends. This dynamic approach aims to balance domestic supply, export competitiveness, and revenue generation within the energy sector.