New Delhi, May 16: The central government has announced changes to the export tax on petroleum products. A special additional excise duty (SAED) of ₹3 per liter has been imposed on petrol exports, while the duty on diesel has been reduced to ₹16.5 per liter. This new order will take effect from Saturday.
According to a notification issued by the Finance Ministry, the ₹3 per liter charge on petrol exports will be implemented, and the duty on diesel has been revised to ₹16.5 per liter.
The notification also states that the road and infrastructure cess on petrol and diesel exports has been set to zero.
The government clarified that there will be no changes to the taxes on domestic fuel.
This is the first time a new SAED has been applied to petrol exports since the onset of the conflict in West Asia.
Meanwhile, the export duties on diesel and aviation turbine fuel (ATF) have been reduced after several revisions in recent months. Previously, the export duty on diesel was set at ₹21.50 per liter on March 26, increased to ₹55.5 per liter on April 11, then decreased to ₹23 per liter on April 30, and is now further reduced to ₹16.5 per liter.
Similarly, the export duty on ATF has also seen changes. Initially set at ₹29.5 per liter, it was raised to ₹42 per liter, then lowered to ₹33 per liter, and is now reduced to ₹16 per liter.
In light of the escalating instability in the global oil market due to the West Asia crisis, a windfall tax framework has been implemented to maintain domestic fuel availability and control exports.
Geopolitical tensions remain high following the failure to reach a peace agreement between the United States and Iran. U.S. President Donald Trump rejected Iran’s proposal, stating, “I don’t like it – it’s absolutely unacceptable.”
My name is Ganpat Singh Choughan. I am an experienced content writer with 7 years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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