India Reduces Fuel Export Duties

Doha: The Indian government announced a reduction in export duties on gasoline, diesel, and jet fuel for two weeks, effective Monday, June 1. According to Qatar News Agency, the government stated that the export duty on gasoline has been set at 1.5 rupees ($0.0158) per liter. The duty on diesel is now 13.5 rupees per liter, while jet fuel has a duty of 9.5 rupees per liter. The announcement highlighted that these duties are subject to review every two weeks. The reviews will consider the average global prices of crude oil, gasoline, diesel, and jet fuel during the period following the last review. This decision is part of India's approach to periodically adjust pricing mechanisms, which aligns export duties on fuel with global market developments and energy prices.