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The Government of India has increased windfall taxes on diesel and aviation turbine fuel (ATF) exports to manage domestic supply amid rising global oil prices. The levy on diesel exports has been raised to INR 55.5 per litre, while ATF exports now attract INR 42 per litre. The move follows crude prices crossing USD 100 per barrel due to supply disruptions in the Strait of Hormuz. The government has also capped monthly ATF price increases for domestic airlines to control airfares. The decision highlights efforts to balance exports with domestic fuel availability during ongoing global energy volatility.
The Government of India has increased windfall taxes on exports of diesel and aviation turbine fuel (ATF) to ensure adequate domestic supply amid rising global oil prices. Advertisement
According to a notification issued by the finance ministry on Saturday, the tax on diesel exports has been raised to INR 55.5 per litre from INR 21.5 per litre. Similarly, the levy on ATF exports has been increased to INR 42 per litre from INR 29.5 per litre. The revised rates have come into effect immediately.
The move follows recent volatility in global crude markets, with oil prices crossing USD 100 per barrel. Supply disruptions linked to tensions in the Strait of Hormuz a key route for nearly 40 per cent of India's crude imports have contributed to the surge.
India had last month reduced excise duty on petrol and diesel by INR 10 per litre to ease the burden on consumers. In addition, the government has introduced measures to control rising airfares by capping the monthly increase in ATF prices for domestic airlines at 25 per cent for April.
Aviation turbine fuel is a major cost component for airlines, accounting for up to 40 per cent of operating expenses. The cap is aimed at limiting cost pressures on carriers and preventing a sharp rise in ticket prices.
India is among the world's top refining nations and remains the third-largest importer and consumer of crude oil. The latest tax adjustments reflect efforts to balance export activity with domestic supply requirements during a period of global energy uncertainty.
Source: Reuters
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