India hikes windfall tax on petrol, diesel and aviation fuel exports from Aug 3

The Indian government has raised export duties on petrol, diesel, and aviation turbine fuel, with the revised rates taking effect from August 3. The new rates will remain in place for a fortnight, as is standard practice for windfall tax revisions. Domestic fuel duties have been left unchanged, ensuring price stability for local consumers. The move comes shortly after a reduction in commercial LPG prices earlier in August. Authorities are also monitoring the potential impact of ongoing global conflicts on India's fuel supply chains.