India is set to reduce export duties on petrol, diesel, and aviation turbine fuel (ATF) effective June 1, according to a statement issued by the government on Saturday.
The new duty rates are 1.5 rupees per litre for petrol, 13.5 rupees for diesel, and 9.5 rupees for ATF. These rates are subject to a fortnightly review based on the average international prices of crude oil.
No changes have been made to the existing excise duties on petrol and diesel used domestically. This adjustment reflects India’s strategic pricing in response to fluctuating oil markets.
(With inputs from agencies.)