India Hikes Windfall Tax on Fuel Exports Amidst Volatile Global Oil Markets
India has sharply increased its windfall tax on fuel exports, effective August 3, 2026, with diesel seeing the steepest hike from Rs 15.5 to Rs 25.5 per litre. This move by the Ministry of Finance aims to rein in big profits by refiners who benefit from high global oil prices, while ensuring enough fuel stays within the country for local needs. Petrol export duty also rose to Rs 3.5 per litre, and Aviation Turbine Fuel (ATF) climbed to Rs 22 per litre, reflecting the government's quick response to market changes.















