Government Raises Windfall Tax On Fuel Exports; Diesel, Petrol & ATF Export Duties Go Up

The government has increased the windfall tax on fuel exports, raising export duties on diesel, petrol, and aviation turbine fuel amid elevated global crude oil prices. Karishma Asoodani, Business Today, explains that the move aims to shield the domestic market from the impact of rising geopolitical tensions in West Asia and volatile global energy prices. The higher export levy is expected to impact private refiners such as Reliance and Nayara Energy, while encouraging more domestic fuel supply. However, consumers are unlikely to see any immediate change in retail petrol and diesel prices, as domestic excise duties remain unchanged.