New Delhi: The Centre on Saturday revised export duties on petrol, diesel and aviation turbine fuel (ATF), with the new rates set to come into effect from June 1 as part of its fortnightly review mechanism aimed at ensuring domestic fuel availability amid continuing global energy market volatility.
According to a notification issued by the Ministry of Finance, the export duty on petrol has been fixed at Rs 1.5 per litre, while diesel exports will attract a duty of Rs 13.5 per litre. The export duty on ATF has been set at Rs 9.5 per litre for the next fortnight from June 1.
The government said the duties, introduced on March 27 in the backdrop of the West Asia crisis, are intended to discourage excessive exports and ensure adequate domestic availability of petroleum products. The rates are reviewed every two weeks and are determined on the basis of average international prices of crude oil, petrol, diesel and ATF during the period since the previous revision.
The latest revision marks a reduction from the rates announced on May 16, when the export duty on petrol had been raised to Rs 3 per litre, while duties on diesel and ATF had been fixed at Rs 16.5 per litre and Rs 16 per litre respectively.
The government clarified there is no change in the existing excise duty rates on petrol and diesel cleared for domestic consumption, reported HT.
In its notification, the government clarified that there would be no change in the existing excise duty rates on petrol and diesel meant for domestic consumption.
