India hikes petroleum crude export tax, cuts jet fuel and diesel taxes

India has increased the export tax on petroleum crude and cut the tax on jet fuel and diesel, according to a government notification on Tuesday.

India raised petroleum crude tax to 17,750 rupees ($226.14) per tonne from 17,000 rupees per tonne, while cutting the tax on jet fuel to zero from 4 rupees per litre and diesel to 5 rupees per litre from 11 rupees per litre. ($1 = 78.4900 Indian rupees)