Government reduces export duty on petrol to nil; diesel and ATF duty also reduced

The government has reduced export duty on petrol to zero, eliminating the tax altogether. This move also sees a decrease in export duty for diesel and ATF, or aviation turbine fuel. The decision aims to ensure a steady supply of retail fuels domestically, as the government continues its fortnightly review to monitor fuel availability. This reduction in export duties may help stabilize domestic fuel prices, potentially benefiting consumers and supporting economic growth.

Why it matters

The government's reduction in export duty on petrol, diesel, and ATF will lead to lower fuel prices. This could boost consumer spending and economic growth.

Market impact

Markets & countries in focus

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