India softens export taxes on diesel, jet fuel as global oil volatility persists amid Iran war
India has reduced export duties on diesel and aviation turbine fuel (ATF) to stabilize refinery margins and maintain export competitiveness amid global oil volatility triggered by the West Asia conflict. The government cut the export duty on diesel to Rs 23 per litre from Rs 55.5 per litre and reduced the levy on ATF to Rs 33 per litre from Rs 42 per litre.
India reduced export duties on diesel and aviation turbine fuel (ATF) amid global oil volatility triggered by the West Asia conflict. The export duty on diesel was cut to Rs 23 per litre from Rs 55.5 per litre, and the levy on ATF was reduced to Rs 33 per litre from Rs 42 per litre. Global oil markets continue to be shaped by disruptions linked to the Iran war and shifting crude trade flows. Premiums on Russian crude have fallen to below $5 per barrel. Indian refiners have increased procurement from Russia, West Asia, Africa, and Latin America to balance disruptions in traditional routes. The UAE's exit from OPEC is expected to increase production flexibility outside cartel quotas, potentially boosting global supply in the medium term.
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