Diesel exports offer Indian refiners gains amid rising crude import bill
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Indian refiners are seeing gains from diesel exports despite a high crude import bill.
- ✓The government changed export duties on October 16 to balance domestic supply.
- ✓While diesel duty fell to ₹8.50 per litre, petrol duty rose to ₹2.50.
Story at a Glance
- Category
- BUSINESS
- Reported By
- Business Standard
- Reading Speed
- 1 Minute(s)
- Market Focus
- India Economy
The benefit of higher exports, however, is not uniform across the sector as private refiners have greater flexibility to divert supplies to export markets while state-run oil marketing companies (OMCs) primarily cater to domestic consumers.
The Indian government has also imposed Special Additional Excise Duty (SAED) on petrol, diesel, and aviation turbine fuel (ATF) as a policy tool to balance overseas sales with domestic availability amid volatility in global oil markets. Effective October 16, the export duty on petrol was increased from ₹0.50 per litre to ₹2.50 per litre, while the duty on diesel was reduced significantly from ₹16 per litre to ₹8.50 per litre. The export levies were introduced from March, as part of measures to ensure domestic availability of petroleum products by discouraging exports amid the West Asia crisis.
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