Now Reading: Petrol export duty cut to nil, diesel and ATF levies reduced
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Petrol export duty cut to nil, diesel and ATF levies reduced
The Centre has scrapped the export duty on petrol and reduced levies on diesel and aviation turbine fuel (ATF) for the August 15 to 31 fortnight. Petrol exports will attract no duty,…
The Story in Brief
The Centre has scrapped the export duty on petrol and reduced levies on diesel and aviation turbine fuel (ATF) for the August 15 to 31 fortnight. Petrol exports will attract no duty, while diesel will face Rs 24 per litre and ATF Rs 19.5 per litre. The previous rates were Rs 3.5, Rs 25.5 and Rs 22 per litre respectively.
The fortnightly review covers petroleum products cleared for export. There is no change in excise duty on petrol and diesel sold in India. The government began reviewing export levies on March 27 during the West Asia conflict to discourage overseas sales and protect domestic availability. Rates are based on international crude and refined fuel prices.
The Indian Opinion
Claims that the move will immediately cut prices at Indian fuel pumps would be misleading, since domestic excise duty rates are unchanged. Equally, calling it a full retreat is inaccurate: diesel and ATF exports still carry substantial levies. The policy’s test is whether domestic supplies remain comfortable without distorting refinery exports. The next fortnightly notification will show whether petrol duty stays at nil and whether the other rates move again.
Sources (3): thehindu.com, timesnownews.com, timesofindia.indiatimes.com
This story was synthesised by AI from the 3 sources linked above.
