Export duty on petrol, diesel hiked by government, no impact on domestic fuel prices

The government of India has today increased the export duty on petrol, diesel, and ATF, a move that could help meet domestic demand. Export duty on petrol has been raised by Rs 6 per litre and Rs 13 per litre on diesel. Export duty on ATF has been upped by Rs 6 per lire. It must be noted that an increase in export duty on the various fuels will not increase domestic fuel prices. The government has also directed exported to sell 50% of their petrol in domestic markets and 30% of diesel as well. The move will also help the government’s kitty as it looks to benefit from the rising crude oil prices.