India cuts export duties on petrol diesel and jet fuel
The Indian government announced a reduction in export duties for petrol diesel and aviation turbine fuel based on recent international price averages. These revised rates take effect on June 1 while domestic excise duties remain unchanged.
India will reduce export duties on petrol to 1.5 rupees ($0.0158) per litre and diesel to 13.5 rupees per litre starting June 1. The government also lowered the levy on aviation turbine fuel to 9.5 rupees per litre in its latest fortnightly review.
The Indian government announced the revised rates in a statement on Saturday evening. Tax levels are determined by the average international prices of Brent Crude Oil and refined products. This mechanism ensures that export taxes reflect current global market volatility.
