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Market Chatter: India Cuts Export Duty on Diesel, Jet Fuel, Raises Levy on Petrol

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India has reduced windfall taxes on diesel and aviation turbine fuel exports while increasing the export duty on petrol, with the revised rates taking effect from July 1, Reuters reported Tuesday, citing a government order.

The export duty on diesel was cut to 8.5 rupees per liter from 14 rupees, while the levy on aviation turbine fuel was lowered to 7.5 rupees from 12.5 rupees per liter. The duty on petrol exports was raised to 4 rupees per litre from 1.5 rupees to help ensure domestic fuel availability.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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