India raises windfall tax on petrol, cuts duty on diesel
India raises windfall tax on petrol exports and halves diesel duties, amid fortnightly price-based adjustments.
The export duty on petrol was raised to ₹2.5 ($0.0263) per litre from ₹0.5 per litre, while the duty on diesel exports was cut to ₹8.5 per litre from ₹16 per litre, effective October 16, the order said.
Published - October 16, 2026 07:58 am IST
Representational image | Photo Credit: Getty Images/iStockphoto
India has raised the windfall tax on exports of petrol and cut the duty on diesel, according to a government order issued late Thursday (October 15, 2026).
The export duty on petrol was raised to ₹2.5 ($0.0263) per litre from ₹0.5 per litre, while the duty on diesel exports was cut to ₹8.5 per litre from ₹16 per litre, effective October 16, the order said.
India first imposed windfall taxes on fuel exports in July 2022 and withdrew them two years later.
The government reintroduced the tax in March 2026 after crude prices jumped during the U.S.-Israeli war on Iran.
The export duties are currently reviewed every fortnight and adjusted in line with movements in international crude oil and petroleum product prices.
Published - October 16, 2026 07:58 am IST
economy, business and finance / taxes and duties / business (general)
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