Fuel exports rise in FY23; refiners stay healthy despite addl excise

Hike in excise duty on fuel was imposed after private refiners made a killing exporting the dirt cheap Russian fuel available to them at elevated prices

The decision by the government on Friday to impose special additional excise duty on exports of petrol and diesel has got mixed responses. The move sought to address the issue of fuel shortage. While private players were concerned, official data indicates that the export of petrol and diesel from the country rose by 13 per cent and 20 per cent respectively so far this year in terms of quantity.

A special additional excise duty (SAED) of Rs six per litre was imposed on aviation turbine fuel (ATF), whose exports were up 16 per cent during the first two months of