Export Levy on Petrol, Diesel and ATF Hiked
The fortnightly review raises duties to curb exports and keep more fuel at home as West Asia tensions push global prices higher.
- On Monday, Aug 3, New Delhi increased the export levy on petrol to Rs 3.5 per litre, diesel to Rs 24 per litre, and ATF to Rs 22 per litre in the latest fortnightly review.
- Amid escalating tensions in West Asia, New Delhi imposed export duties on diesel and ATF on March 27 to ensure adequate domestic fuel availability by disincentivizing exports.
- The government increased export levies from the previous fortnightly review on July 16, when petrol was Rs 2.5 per litre, diesel Rs 14.5 per litre, and ATF Rs 15.5 per litre.
- Excise duty rates for petrol and diesel cleared for domestic consumption remain unchanged, the finance ministry confirmed in its Aug 3 notification implementing the new export levies.
- Rates are prescribed based on prevailing average international crude oil prices and reviewed fortnightly to prevent exporters from exploiting price differences amid volatile global markets.
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21 Articles
The Brazilian Institute of Petroleum, Gas and Biofuels (IBP) should meet this week with the Ministry of Development, Industry and Trade (Mdic) to deal with the extension of the export tax on oil, whose rate of 12% was extended last month by means of a decree. The entity intends to demonstrate to the folder that the initiative can cause Brazilian oil to lose competitiveness vis-à-vis other countries, in a scenario of diversification of global sup…
India Hikes Windfall Tax on Petrol, Diesel and ATF Exports Amid Global Market Volatility | 📰 LatestLY
India has raised windfall profit taxes on diesel, petrol, and aviation fuel exports to protect domestic supplies amid global oil market volatility. According to a Reuters report, the export duties see significant hikes following previous revisions driven by ongoing geopolitical conflicts in the Middle East. 📰 India Hikes Windfall Tax on Petrol, Diesel and ATF Exports Amid Global Market Volatility.
Centre hikes windfall tax on diesel, ATF exports amid oil market volatility - The Tribune
The Centre has increased the windfall tax on diesel and aviation turbine fuel (ATF) exports as global crude oil prices remain volatile amid developments in West Asia, according to a government notification issued on Monday.
Centre raises windfall tax on petrol, diesel and ATF exports from August 3
India has increased export duties on petrol, diesel, and aviation fuel. These revised rates will be effective from August 3 for the next fortnight. Domestic fuel duties remain unchanged, providing stability for local consumers. This move follows a reduction in commercial LPG prices earlier this month. The government is assessing global conflicts' impact on India's supply chains.
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