The finance ministry on Saturday announced a sharp increase in export duties on diesel and Aviation Turbine Fuel (ATF), while keeping the duty on petrol unchanged.According to the ministry, the export duty on diesel has been raised from Rs 21.5 per litre to Rs 55.5 per litre, while that on ATF has been increased from Rs 29.5 per litre to Rs 42 per litre. The revised rates will take effect immediately.The move comes as the government weighs steps to prevent higher fuel costs from feeding into airfares. Officials are reviewing tax and fee measures to protect airlines and passengers amid volatile global oil prices.
The earlier duties, imposed on March 26, were aimed at boosting domestic fuel availability during the conflict in West Asia and preventing exporters from gaining from widening global price differences as crude prices surged.The tensions escalated on February 28 when the United States and Israel launched military strikes on Iran, drawing a strong response from Tehran. A temporary pause followed on April 8, when the three countries agreed to a two-week ceasefire after the conflict disrupted energy markets across the Middle East.
Poll
What do you think will be the impact of the increased export duties on airfares?
Export duty on petrol continues to remain nil.
