India Cuts Export Duty on Petrol, Diesel Amid Global Oil Crisis
Government announces reduction in export duty on fuel products, including aviation turbine fuel, effective from June 1
Amid the ongoing global oil crisis, the Government of India has taken a major step by reducing export duties on petrol and diesel. The move comes as part of efforts to address challenges in the energy sector and maintain stability in fuel exports.
On Saturday, the Indian government announced that the export duty on petrol, diesel, and Aviation Turbine Fuel (ATF) will be reduced starting June 1. The decision is expected to provide relief to exporters and improve the competitiveness of Indian fuel products in the international market.
The reduction in export duty comes at a time when global oil markets continue to face uncertainty due to supply concerns and geopolitical tensions. Experts believe the move could help streamline fuel exports while balancing domestic energy requirements.
Further details regarding the revised export duty rates are expected to be released by the government.
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