- Export levies set at Rs 4/litre on petrol, Rs 8.5/litre on diesel, Rs 7.5/litre on ATF
- Exemptions on export levies now include PSU oil exports to Mauritius and the Maldives
- Previous exemptions covered Nepal, Bhutan, Bangladesh, and Sri Lanka only
The Centre has revised export levies on petrol, diesel and aviation turbine fuel (ATF) for the fortnight beginning July 1, while expanding exemptions for exports by state-run oil marketing companies (OMCs) to Mauritius and the Maldives.
Under the revised rates, the export levy has been fixed at Rs 4 per litre on petrol, Rs 8.5 per litre on diesel and Rs 7.5 per litre on ATF. The duties will remain in force for the next fortnight and will continue to be reviewed periodically in line with movements in global crude oil and refined fuel prices.
In a significant policy change, the government has exempted exports by public sector oil marketing companies to Mauritius and the Maldives from the export levies. The move expands the list of countries eligible for exemption under the government's export framework.
Prior to this revision, similar exemptions were available only for PSU OMC exports to Nepal, Bhutan, Bangladesh and Sri Lanka. With the addition of Mauritius and the Maldives, state-run refiners can now supply petroleum products to six neighbouring and strategic partner countries without attracting the export levy.
The government has, however, left excise duties on petrol and diesel meant for domestic consumption unchanged, ensuring that there is no immediate impact on retail fuel taxation within the country.
ALSO READ: Inflation To Ease As Finance Ministry Sees Comfort In Retreating Oil Prices
The export levies are reviewed every fortnight based on prevailing international crude oil and petroleum product prices. The mechanism allows the government to respond to changing market conditions while balancing export opportunities with domestic fuel security.
India had introduced export curbs in March amid heightened geopolitical tensions in West Asia, which had raised concerns over global energy supplies and fuel availability. The measures were aimed at ensuring adequate domestic availability of petroleum products and insulating the local market from supply disruptions arising from the regional conflict.
The continuation of the fortnightly review mechanism indicates that the government will continue to closely monitor global energy markets and adjust export duties as required. While exporters remain subject to the revised levy structure, the expanded exemption list provides greater flexibility for PSU oil marketing companies in servicing strategic overseas markets.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
