Govt Reduces Windfall Tax On Fuel Export, Domestic Crude Oil, ATF Amid Global Oil Prices Fall

After global oil prices plummeted, government removed three-week-old tax on petrol exports and reduced windfall levies on international shipments of diesel and ATF, and domestically produced crude oil, on July 19. While the export duty on petrol was abolished at Rs 6, the duty on diesel and jet fuel (ATF) was reduced by Rs 2 per litre. The tariff on domestic crude was also reduced to Rs 17,000 per tonne.