October 2, 2026: India has cut windfall taxes on exports of diesel and aviation turbine fuel effective October 1, according to a government order issued late on Wednesday.
The export duty on diesel was reduced to 16 rupees per litre from 20 rupees per litre, while the levy on aviation turbine fuel was cut to 10.5 rupees per litre from 15 rupees per litre, the order showed.
The duty on petroleum exports remains unchanged at 0.5 rupees a litre.
India first imposed windfall taxes on fuel exports in July 2022 and withdrew them two years later.
The government reintroduced the tax in March 2026 after crude prices jumped during the US-Israeli war on Iran.
The export duties are currently reviewed every fortnight and adjusted in line with movements in international crude oil and petroleum product prices.
(Source: Reuters)
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