India Cuts Windfall Taxes on Fuel
India reduced windfall taxes on exports of diesel and aviation turbine fuel effective October 1. The export duty on diesel fell to 16 rupees per litre, while aviation fuel dropped to 10.5 rupees per litre following fortnightly reviews.
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India reduced windfall taxes on exports of diesel and aviation turbine fuel effective October 1, according to a government order issued late on Wednesday. The adjustment follows a fortnightly review of international petroleum product prices. The cuts apply as crude benchmarks remain volatile following military escalations involving the United States and Israel against Iran earlier in the year.
