New Delhi, August 3: Amid ongoing fluctuations in global crude oil prices and geopolitical tensions related to Iran, the central government has raised the windfall tax on the export of petroleum products. This decision aims to ensure adequate fuel availability in the domestic market and effectively address changes in the international energy market.
According to a government order, the revised export duties on petrol, diesel, and aviation turbine fuel (ATF) are now in effect. Under the new rates, exporters will face increased taxes on these products.
The government has raised the export duty on petrol to ₹3.5 per liter, up from the previous rate of ₹2.5 per liter. Officials state that this decision is intended to maintain petrol availability in the domestic market.
Additionally, there has been a significant increase in the total export duty on diesel. Combining two separate taxes, the new duty on diesel will be ₹25.5 per liter, compared to ₹15.5 per liter just 15 days ago.
The export duty on aviation turbine fuel (ATF) has also been increased. The new rate is now ₹22 per liter, up from the previous ₹14.5 per liter. These new rates took effect on Monday.
This decision follows changes made last month when the government increased the windfall tax on diesel and ATF amid rising global oil prices and refining margins, while offering some relief on petrol taxes.
On July 16, the finance ministry issued a notification raising the export duty on diesel from ₹8.5 to ₹15.5 per liter, while the duty on ATF was increased from ₹7.5 to ₹14.5 per liter. At that time, the export duty on petrol was reduced from ₹4 to ₹2.5 per liter to maintain balance in the sector.
Earlier in July, another amendment raised the special additional excise duty (SAED) on petrol exports from ₹1.5 to ₹4 per liter. Meanwhile, the duty on diesel was reduced from ₹14 to ₹8.5 per liter, and the duty on ATF was cut from ₹12.5 to ₹7.5 per liter.
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