India Raises Fuel Export Duties to Rs16.5/L

India increased export duty on petrol to Rs3 per litre, diesel to Rs16.5 per litre, and aviation fuel to Rs16 per litre.
The changes were announced Friday, a day after raising retail fuel prices for the first time since the Iran war began.
Excise duty rates for domestic petrol and diesel remain unchanged, and the government reviews export duties fortnightly based on international price averages.
Market indices rose, with CL up 3.87% and GPR up 2.59% following the announcement.