The Indian government on Friday slashed the windfall tax on petroleum crude to Rs 5,200 ($62.33) per metric ton from Rs 5,700, with effect from June 1.
he tax, which is revised every fortnight, remains unchanged for diesel and aviation turbine fuel.
On May 16, the Indian government had reduced the windfall tax on petroleum to Rs 5,700 per metric ton from Rs 8,400.
India started taxing crude oil production and exports of gasoline, diesel and aviation fuel in July 2022 to regulate private refiners which wanted to sell fuel overseas instead of locally in a bid to gain from robust refining margins.
Tags: Gasoline, Petroluem, windfall tax
Recent Posts
The Liberian Registry and Korean Register (KR) grant AiP to Samsung
To satisfy decarbonization targets, Big Oil invests billions in the manufacture of biofuel
ISO issues standards for methanol as a marine fuel
Amazon, partners to test electric trucks on a freight corridor in India
Hutchison Ports BEST receives Lean and Green award for outstanding emissions reduction
India ranks 10th in list of 60 countries assessed for efforts to fight climate change: Report
SECI to collaborate with H2Global for green hydrogen
Maersk completes first large container vessel conversion to dual-fuel