Government hikes export duty on diesel to Rs 15.5/litre, ATF to Rs 14.5/litre

Duty on diesel exports has been raised to Rs 15.5 per litre from Rs 8.5 per litre, while the duty on aviation turbine fuel has been increased to Rs 14.5 per litre from Rs 7.5 per litre.

NEW DELHI: The government on Wednesday hiked windfall taxes on the exports of diesel and aviation turbine fuel as crude oil prices rose amid the ongoing crisis in the Middle East between the US and Iran.According to news agency Reuters, the duty on diesel exports has been raised to Rs 15.5 per litre from Rs 8.5 per litre, while the duty on aviation turbine fuel has been increased to Rs 14.5 per litre from Rs 7.5 per litre.Meanwhile, the export duty on petrol has been lowered to Rs 2.5 per litre from Rs 4 per litre.This comes as crude oil prices surged after hostilities between the United States and Iran restarted this week.US President Donald Trump reimposed a naval blockade on all Iranian ports, and Iran launched retaliatory strikes on US infrastructure in the region.