India raises tax on exports of diesel and jet fuel.

India has increased taxes on windfall profits levied on exports of diesel and jet fuel (ATF), according to a government order released on Monday (3). The measure aims to strengthen the supply to the domestic market in the face of high demand for fuels. The tax on gasoline exports was raised from 2.5 rupees to 3.5 rupees per liter (about US$0.0367/liter), effective immediately. In the case of diesel, the total tax on exports increased to 25.5 rupees per liter, through the application of two additional taxes. Two weeks ago, the total rate was 15.5 rupees per liter. The tax on jet fuel (ATF) exports was also increased from 14.5 rupees to 22 rupees per liter, also effective from Monday.

This text was translated by machine from Brazilian Portuguese.