India has reduced the windfall tax imposed on exports of diesel and aviation turbine fuel with effect from October 1. The government communicated the change through an order issued late on Wednesday, easing the tax burden on exporters of the two petroleum products.
The move comes as global energy markets remain sensitive to developments in the Middle East. With crude prices still elevated and fuel supply routes being closely monitored because of the Iran conflict, changes in export taxation could influence refining economics and the country’s petroleum-product trade.
Leave A Comment