India Cuts Diesel Export Duty to 8.5 Rupees Per Liter Amid Tight Supply

India cut its diesel export levy by nearly half on Friday, Oct. 16, as tight global fuel supplies put the policy shift against a forecast shortfall in gasoil later this year. The special additional excise duty on diesel exports fell to 8.5 rupees per liter from 16 rupees. The gasoline export levy rose to 2.5 rupees per liter from 0.5 rupees. The aviation turbine fuel export duty remained 10.5 rupees per liter, and domestic gasoline and diesel excise rates did not change.

Source: TokenPost