India cuts special additional excise duty on exported fuels
Business
India just lowered its Special Additional Excise Duty (SAED) on exported fuels, starting June 1.
Petrol export duty is now 1.5 rupees per liter (down from 3 rupees), diesel drops to 13.5 rupees per liter (from 16.5 rupees), and aviation turbine fuel (ATF) sees the steepest cut, falling from 16 rupees to 9.5 rupees per liter.
Domestic petrol and diesel excise unchanged
If you're filling up your tank in India, nothing changes: domestic excise duties for petrol and diesel are untouched.
The SAED was first set up on March 27 to keep more fuel available locally during West Asia crisis, and is updated every two weeks based on average international prices of crude oil, petrol, diesel and ATF.