India has reduced export duties on petrol, diesel and aviation turbine fuel for the June 1 fortnight, reflecting changes in global oil prices, while leaving domestic fuel excise rates unchanged.
India will reduce export duties on petrol, diesel and aviation turbine fuel (ATF) for the fortnight beginning June 1, according to a government statement issued on Saturday.
The export duty on petrol has been fixed at 1.5 rupees ($0.0158) per litre, while the duty on diesel has been set at 13.5 rupees per litre, the statement said. Export duties on ATF have been set at 9.5 rupees per litre.
The government reviews the rates every two weeks. The duties are determined based on the average international prices of crude oil, petrol, diesel and ATF during the period since the previous review.
The statement said there would be no change to the existing excise duty rates on petrol and diesel cleared for domestic consumption.
($1 = 95.0000 Indian rupees)
This post is republished from Reuters.
