India scrapped the Rs 2.5/litre petrol export duty and raised diesel to Rs 11.5/litre from Rs 8.5, ATF to Rs 11 from Rs 10.5, effective Oct 31. The fortnightly revisions are meant to keep petroleum pr

What happened: The Centre scrapped the Rs 2.5 per litre special additional excise duty on petrol exports and raised the levy on high-speed diesel and ATF exports, per Ministry of Finance notifications. Key numbers: Petrol export duty cut from Rs 2.5 per litre to zero. Diesel raised from Rs 8.5 to Rs 11.5 per litre. Why it matters: The duties were introduced during the West Asia crisis to discourage exports and keep petroleum products available domestically. The government has revised the levies every fortnight based on average international prices of crude oil, petrol, diesel and ATF.

The Centre scrapped the Rs 2.5 per litre special additional excise duty on petrol exports and raised the levy on high-speed diesel and ATF exports, per Ministry of Finance notifications.

The duties were introduced during the West Asia crisis to discourage exports and keep petroleum products available domestically. The government has revised the levies every fortnight based on average international prices of crude oil, petrol, diesel and ATF.