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India cuts windfall tax on crude oil output, diesel exports

10/01/2022 | 04:02pm EST
FILE PHOTO: A worker holds a nozzle to pump petrol into a vehicle at a fuel station in Mumbai

NEW DELHI (Reuters) - The Indian government has cut a windfall tax on domestically produced crude oil to 8,000 rupees per tonne from 10,500 rupees per tonne from Sunday, after a decline in global oil prices.

India has also scrapped an export tax on jet fuel and halved export duties on diesel to 5 rupees per litre from Sunday, a government notification said.

(Reporting by Nidhi Verma; Editing by Alexander Smith)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
S&P GSCI CRUDE OIL INDEX -0.16% 439.6579 Real-time Quote.3.98%
S&P GSCI PETROLEUM INDEX -0.27% 313.2834 Real-time Quote.9.15%
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