India Reduces Export Duty on Diesel and ATF Amid Global Fuel Crisis
Govt cuts export duty on diesel, ATF; retail petrol prices unchanged
Business Standard
Image: Business Standard
The Indian government has reduced export duties on diesel and aviation turbine fuel (ATF) to ₹23 per litre and ₹33 per litre, respectively, effective May 1. This move aims to ensure domestic fuel availability amid the ongoing West Asia crisis, while retail petrol prices remain unchanged.
- 01Export duty on diesel reduced to ₹23 per litre and ATF to ₹33 per litre.
- 02Previous export duties were ₹55.5 for diesel and ₹42 for ATF.
- 03The government aims to ensure domestic fuel availability amid global crises.
- 04Retail prices of petrol, diesel, and LPG remain unchanged for consumers.
- 05The last revision of duties occurred on April 11, based on international prices.
Advertisement
In-Article Ad
The Indian government has announced a reduction in export duties on diesel and aviation turbine fuel (ATF), setting the new rates at ₹23 per litre for diesel and ₹33 per litre for ATF, effective from May 1. This decision comes in response to the ongoing crisis in West Asia, which has raised concerns about domestic fuel availability. Previously, the export duties were significantly higher, with diesel at ₹55.5 and ATF at ₹42 per litre. Despite these changes, the government has maintained the existing excise duty rates on petrol and diesel for domestic consumption, which remain unchanged. In late March, the government had already reduced excise duties on petrol and diesel by ₹10 per litre to help consumers cope with rising energy prices. The Indian Oil Corporation Ltd (IOCL) confirmed that retail prices for petrol, diesel, and domestic LPG cylinders have not changed, effectively shielding consumers from the recent increases in international fuel prices.
Advertisement
In-Article Ad
This reduction in export duties is expected to stabilize domestic fuel prices, benefiting consumers by preventing price hikes amidst global volatility.
Advertisement
In-Article Ad
Reader Poll
Do you think the government should continue adjusting fuel export duties?
Connecting to poll...
More about Indian Oil Corporation Ltd
Read the original article
Visit the source for the complete story.
