Centre cuts windfall tax on diesel exports, raises levy on petrol

What happened: The Centre cut the windfall tax on diesel exports and raised the levy on petrol exports for the fortnight beginning 16 October, amid escalating tensions in West Asia and rising oil prices. Key numbers: Diesel export SAED plus cess cut to ₹8.50 per litre from ₹16. Petrol export SAED raised to ₹2.50 per litre from ₹0.50. Why it matters: The windfall tax was introduced to ensure domestic availability of petroleum products by discouraging exports during the West Asia war and to prevent exporters from profiting from the price gap between domestic and international markets.

Tax changes on diesel and petrol exports signal shifting commodity margins.

Tax changes on diesel and petrol exports signal shifting commodity margins. — impact context not separately stored; see What changed.