India hikes tax on locally produced crude, cuts export taxes on diesel, jet fuel

NEW DELHI: India has increased tax on locally produced crude oil and cut export taxes on jet fuel and diesel, according to a government notification on Tuesday.
India raised the tax on domestically produced crude to Rs 17,750 ($226.14) per tonne from Rs 17,000 per tonne, while cutting export taxes on jet fuel to zero from Rs 4 per litre and diesel to Rs 5 per litre from Rs 11 per litre.