India cuts export duties on petrol, diesel and aviation turbine fuel

Rates being revised on fortnightly basis, based on average global prices of crude oil, petrol, diesel & ATF during the period since last review. No change in the existing excise duty rates.

A man works close to pipelines of liquid cargo, near the Deendayal Port in Kandla, in the western state of Gujarat, India, September 26, 2024. REUTERS/Amit Dave

India will cut its export duty on petrol diesel and aviation turbine fuel (ATF) for the fortnight starting June 1, its government said in a statement on Saturday.

The duty on exports of petrol has been set at 1.5 rupees ($0.0158) per litre while that on diesel has been set at 13.5 rupees per litre, the statement said. Export duties on ATF have been set at 9.5 rupees per litre.

The rates are being revised on a fortnightly basis and are based on the average international prices of crude oil, petrol, diesel and ATF during the period since the last review.

There is no change in the existing excise duty rates on petrol and diesel cleared for domestic consumption.

($1 = 95.0000 Indian rupees)

(Reporting by Rhea Rose Abraham in Bengaluru; Editing by Andrea Ricci)