economy

India Hikes Windfall Taxes on Diesel, Aviation Fuel as Global Oil Prices Surge

Published on: 16 Jul 2026, 12:51 AM

The Indian government has raised windfall taxes on exports of diesel and aviation turbine fuel following a spike in global oil prices, according to a government order issued on July 16.

The export duty on diesel has been increased to 15.5 rupees ($0.1610) per litre from 8.5 rupees per litre earlier. Similarly, the duty on aviation turbine fuel has been raised to 14.5 rupees per litre from 7.5 rupees per litre.

In contrast, the export duty on petrol has been lowered to 2.5 rupees per litre from 4 rupees per litre.

The new rates took effect on July 16.

Oil prices have risen after hostilities between the United States and Iran intensified this week. The US reimposed a naval blockade on all Iranian ports, and Iran launched retaliatory strikes on US infrastructure in the region. The price of crude oil rose on Wednesday before easing slightly.

Windfall taxes are levied by governments on industries that benefit unexpectedly from economic conditions. In this case, the tax aims to capture additional profits made by oil exporters due to higher global prices.

Source: Indian Express

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