India cuts fuel export costs
India has announced a move to boost petroleum product exports by reducing the taxes imposed on them, starting from August 15. The export duty on gasoline has been completely eliminated, and the export fees on diesel and jet fuel have been lowered, reducing export costs and increasing the competitiveness of Indian refineries in international markets. These adjustments come as part of a periodic review based on fluctuations in global oil prices, and the decision aims to enhance export revenues while maintaining a balanced fuel supply in the domestic market. Despite these reductions, diesel and jet fuel duties remain higher than those on gasoline to prevent encouraging exports at the expense of the local market.
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