New Delhi: The Centre has increased windfall taxes on exports of petrol, diesel and aviation turbine fuel (ATF) with immediate effect, as volatility in global crude oil prices continues amid tensions linked to the Iran conflict.
According to a government notification, the revised export duties are intended to safeguard domestic fuel availability while responding to fluctuations in international energy markets and rising global oil prices.
The export duty on petrol has been increased to Rs 3.5 per litre from Rs 2.5 per litre. The government said the revision is aimed at ensuring adequate fuel supplies within the country despite strong international demand.
The most significant hike has been announced for diesel exports. Through two separate tax levies, the total export duty has been raised to Rs 25.5 per litre, up from Rs 15.5 per litre that was in force over the past fortnight.
Similarly, the export duty on aviation turbine fuel (ATF) has been increased to Rs 22 per litre from Rs 14.5 per litre, reflecting the government’s continued efforts to manage domestic fuel availability during a period of heightened geopolitical uncertainty.
The latest revision follows a series of changes made over the past month as global crude prices surged amid escalating tensions involving Iran. In the previous revision, the government had increased export duties on diesel and ATF while reducing the levy on petrol exports to balance refining margins and domestic supply requirements.
Earlier adjustments had also seen multiple revisions in the Special Additional Excise Duty (SAED) on petroleum exports, with tax rates being altered in response to changing international oil prices and refining economics.
With geopolitical tensions continuing to influence energy markets, the Centre is closely monitoring global crude price movements and has indicated that export duties may be reviewed periodically to ensure domestic energy security while maintaining stability in the country’s fuel market.
