There is significant and welcome news for oil companies. The central government has announced a major reduction in the Special Additional Excise Duty (SAED)—also known as the windfall tax—levied on the export of petrol, diesel, and Aviation Turbine Fuel (ATF). Following the order issued by the Ministry of Finance, companies exporting these fuels stand to gain substantially.

**New Tax Rates on Petrol, Diesel, and ATF**
The government implemented the new rates with immediate effect through an order issued on the night of September 16. Specifically, the export duty on petrol has been slashed from ₹1.50 per litre to just ₹0.50 per litre—a reduction of ₹1 per litre.

Meanwhile, companies exporting diesel have received the most significant relief; the total tax on diesel exports has been reduced from ₹25 per litre to ₹20 per litre. Previously, the ₹25 tax included the SAED and a ₹1 Road and Infrastructure Cess (RIC); the government has now completely abolished the RIC. Additionally, the windfall tax on the export of Aviation Turbine Fuel (ATF) has been reduced to ₹15 per litre.

**Will the General Public Get Cheaper Petrol and Diesel?**
If you are wondering whether this decision will lower fuel prices at your local petrol pump, the answer is no. This decision will have no impact on domestic consumers. There have been no changes to the existing excise duty applicable to petrol and diesel sold within the country.

**What Does This Mean for Companies?**
This decision offers a major financial boost to large oil refineries and oil marketing companies (such as Reliance, Nayara Energy, ONGC, etc.) that refine oil in India and export it to international markets. A reduction in export duties (taxes) will lower costs for these companies and significantly boost their profit margins.

Rates in your city
City    Petrol    Diesel
Delhi    ₹102.12    ₹95.62
Mumbai    ₹104.21    ₹92.15
Kolkata    ₹104.95    ₹91.82
Chennai    ₹100.75    ₹92.34

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