The Centre has raised windfall tax on exports of petrol, and reduced levies on diesel, according to a government notification issued late on Thursday night.
The tax on petrol export was hiked to 2.5 rupees ($0.0263) per litre from 0.5 rupees per litre, according to the notification. On the other hand, duty on diesel exports was slashed to 8.5 rupees per litre from 16 rupees per litre, effective October 16, the order said.
Windfall taxes on fuel exports were first imposed in July 2022 by the government, but they were withdrawn two years later. The duties were reintroduced in March 2026 to grapple with surging energy prices as the US-Israeli war on Iran waged on.
At present, the export taxes are reviewed every fortnight and adjusted in line with movements in international crude oil and petroleum product prices.
(This story will be updated shortly)
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