Centre Raises Special Excise Duty on Petrol Exports by Rs. 3 Per Litre

The central government has announced an increase in the special additional excise duty on petrol exports from India by Rs. 3 per litre.

The move comes amid rising global crude oil prices, growing geopolitical tensions in West Asia, and increasing pressure on oil companies.

Fuel prices across the country were revised upward early on May 15 due to the impact of the ongoing conflict in the Middle East and fluctuations in global crude oil markets.

In Chennai, the price of petrol was increased by Rs. 2.83 per litre and is now being sold at Rs. 103.67 per litre. Diesel prices were also raised by Rs. 2.86 per litre, taking the retail price to Rs. 95.25 per litre.

Union Minister for Commerce and Industry Piyush Goyal stated that Prime Minister Narendra Modi had ensured that petrol and diesel prices were increased only marginally despite global pressures.

Following the fuel price revision, the Centre has now increased the export duty on petrol.

According to the latest notification, the special additional excise duty on petrol exports has been raised by Rs. 3 per litre.

At the same time, the government has reduced the export duty on diesel and aviation turbine fuel (ATF).

The special additional excise duty on diesel exports has been reduced from Rs. 23 per litre to Rs. 16.50 per litre.

Similarly, the excise duty on aviation fuel exports has been reduced from Rs. 33 per litre to Rs. 16 per litre.

The revised tax rates will come into effect from May 16 and remain valid for the next 15 days.

The government also clarified that there has been no change in the excise duty rates applicable to petrol and diesel meant for domestic consumption.