Centre imposes extra levies on petrol, diesel exports; hikes gold import duty

With an aim to address the issue of fuel shortage in the country, the government Friday imposed special additional excise duty on export of petrol and diesel.

The move will not just fetch more revenue to the exchequer but also discourage companies from exporting petrol and diesel, and thereby help ease the fuel situation in the domestic market.

Private oil marketing companies were exporting petrol and diesel to foreign countries like Australia for better realisation.

“As exports are becoming highly remunerative, it has been seen that certain refiners are drying out their pumps in the domestic market. In view of this, cesses equal to Rs 6 per litre on petrol and Rs 13 per litre on diesel have been imposed on their exports.