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India boosts diesel and jet fuel export taxes for two-week window

Diesel export duties rise to 15.5 rupees per liter and jet fuel to 14.5 rupees, while gasoline export levies are cut to 2.5 rupees.

Reported · Written up by our desk · Energy

India has increased export duties on diesel and jet fuel for the two-week period starting July 16, according to a notice from the Indian Finance Ministry highlighted by OilPrice.

The diesel export tax is set at 15.5 rupees per liter, up from 8.5 rupees, and the jet fuel export tax is raised to 14.5 rupees per liter from 7.5 rupees for the first half of July.

India also reduced the export duty on gasoline to 2.5 rupees per liter from 4 rupees, with the government reviewing its export duty policy every fortnight based on domestic and international supply and price conditions.

OilPrice said analysts expect the higher duties to curb some high Indian diesel and jet fuel exports, against a backdrop of tight global diesel stocks. The outlet linked the decision to renewed concerns about supply disruptions associated with the return of the Hormuz crisis.

Latest closeGasoline (RBOB) $3.100 ▼3.9%

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