India raises petrol export duty, cuts diesel and jet fuel

The Indian government has revised its export duties on key petroleum products and reduced the domestic price of jet fuel, effective July 1, as part of ongoing efforts to manage domestic fuel availability amid fluctuating global energy markets.

On Tuesday, the Ministry of Finance issued notifications updating the Special Additional Excise Duty (SAED) on fuel exports for the fortnight beginning July 1. The export duty on petrol has been increased to 4 rupees per litre, up from 1.5 rupees. Conversely, the duties on diesel and Aviation Turbine Fuel (ATF) have been lowered to 8.5 rupees and 7.5 rupees per litre, down from 14 rupees and 12.5 rupees, respectively. The government also expanded the list of countries exempt from these export duties for supplies made by public sector oil companies. The exemption, which previously covered Nepal, Bhutan, Bangladesh, and Sri Lanka, now includes Mauritius and the Maldives.

Officials clarified that there is no change to the existing excise duties on petrol and diesel sold for domestic consumption, meaning retail fuel prices at pumps across India are unaffected by these export duty revisions.

Separately, on Wednesday, state-owned oil marketing...