India raises tax on exports of diesel and jet fuel.

The Indian government has announced an increase in taxes on windfall profits levied on exports of diesel and jet fuel (ATF), amid rising international oil prices caused by the escalating conflict between the United States and Iran.

According to an order published by the government, the new rates will come into effect from this Wednesday (16).

The tax on diesel exports was raised from 8.5 rupees to 15.5 rupees per liter (about US$0.18), while the tax on aviation fuel increased from 7.5 rupees to 14.5 rupees per liter.

Conversely, the government reduced the tax on gasoline exports from 4 rupees to 2.5 rupees per liter.

This text was translated by machine from Brazilian Portuguese.