India will cut its export duty on petrol diesel and aviation turbine fuel (ATF) for the fortnight starting June 1, its government said in a statement on Saturday.
The duty on exports of petrol has been set at 1.5 rupees ($0.0158) per litre while that on diesel has been set at 13.5 rupees per litre, the statement said. Export duties on ATF have been set at 9.5 rupees per litre.
The rates are being revised on a fortnightly basis and are based on the average international prices of crude oil, petrol, diesel and ATF during the period since the last review.
There is no change in the existing excise duty rates on petrol and diesel cleared for domestic consumption.