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Export levy on petrol, diesel and ATF hiked – Cash My Currency- Financial Updates | Business Blog Post | Financial Guest Posting Services

Export levy on petrol, diesel and ATF hiked

Export levy on petrol, diesel and ATF hiked

Image used for representational purposes. File
| Photo Credit: Reuters

In their latest fortnightly review, the government increased the export levy on petrol to ₹3.5 per litre, diesel to ₹24 per litre and that on aviation turbine fuel (ATF) to ₹22 per litre.

The excise levy on petrol and diesel for domestic consumption remains unchanged.

In the previous fortnightly review July 16, export levy on petrol was reduced to ₹2.5 per litre whilst that on ATF, diesel was increased to ₹15.5 per litre and ₹14.5 per litre respectively.

Against the backdrop of the West Asia crisis, the government has instituted export levies since March 27 onwards to ensure adequate domestic availability of the retails fuel by disincentivising exports.

The rates are reviewed on a fortnightly basis.

The effective rates are prescribed based on the then prevailing average international prices of crude oil, petrol, diesel and jet fuel since the prior review.

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