Diesel Exports

India has extended restrictions on the export of diesel and gasoline, the government said in a notification, as New Delhi tries to ensure the availability of refined fuels for the domestic market

Petrol and Aviation Turbine Fuel (ATF) have been exempted from the export levy

India's role in supplying Europe is notable because it has become one of the biggest buyers of discounted Russian crude since the war broke out

The revised tax rates become effective from December 2, 2022

State-owned refiners are in a strong position to gain from the surging demand for diesel from Europe as winter sets in and natural gas supplies from Russia are set to dwindle on fresh sanctions

The government on Wednesday hiked windfall tax on domestically produced crude oil while reducing the rate on export of diesel. The tax on crude oil produced by firms such as state-owned Oil and Natural Gas Corporation (ONGC), was hiked to Rs 10,200 per tonne, from Rs 9,500 per tonne, with effect from November 17, a government notification said. In the fortnightly revision of windfall tax, the government cut the rate on export of diesel to Rs 10.5 per litre, from Rs 13 per litre. The levy on diesel includes Rs 1.50 per litre road infrastructure cess. The export tax on jet fuel or ATF, which was set at Rs 5 a litre in the last review on November 1, has not been altered. When the levy was first introduced, a windfall tax on export of petrol alongside diesel and ATF too was levied. But the tax on petrol was scrapped in subsequent fortnightly reviews. While the windfall profit tax is calculated by taking away any price that producers are getting above a threshold, the levy on fuel expo

The government raised the tax on the export of diesel and jet fuel (ATF) and hiked the windfall profit levy on domestically-produced crude oil in line with rising product margins and oil prices

Gujarat has the highest percentage of private oil pumps at 24%, followed by Rajasthan at 14.5%; the former will elect a new legislative assembly by this December, the latter, a year later

The government has imposed a sharp windfall tax of Rs 13 per litre on diesel exports and Rs 6 per litre on gasoline exports

The government has levied Rs 6 per litre tax on ATF and petrol exports and imposed Rs 13 per litre tax on diesel exports

On June 16, the firm had set a target price of Rs 3,170 per share, saying RIL was amongst the few large companies in India with a positive earnings revision cycle

India on Saturday provided another 40,000 metric tonnes of diesel to Sri Lanka under the credit line facility to the island nation which is grappling with its worst economic crisis.

China is seeing a demand recovery in infrastructure and manufacturing sectors. Countries, like South Korea and Japan, have also placed quotes for importing petroleum products from India amid lockdown

India, the world's third-biggest oil importer and consumer, has set an April 1, 2020 deadline to migrate to Euro VI-compliant fuels to cut its carbon emissions

Diesel cracks that had strengthened in anticipation of new marine fuel norms from January 2020 have eased since the start of September

Five straight quarters of slowing growth is taking an increasing toll on demand, resulting in diesel consumption slumping to the lowest since the start of 2017

The exports are expected to continue until year-end, likely weighing on low-sulphur cash differentials, the sources said

Increase in shipments from India has driven the profit margin for refining diesel in Asia to a seasonal 6-year low