India raises excise duty on fuel to curtail export by private fuel retailers

In a bid to regulate fuel prices in the domestic market, the government on Friday raised excise duty on export of petrol, diesel and Aviation Turbine Fuel (ATF) from 1 July 2022. It has raised excise by Rs. 6 per litre on ATF, Rs 6 per litre on petrol and Rs 13 per litre on diesel. The government will charge a cess of Rs. 23250 per tonne on crude. Import of crude would not be subject to this cess.