Free Trial

India Plans to Extend Diesel/Gasoline Export Restrictions

OIL PRODUCTS

India plans to extend diesel and gasoline export restrictions after the current fiscal year ends this month to ensure domestic availability according to government sources speaking with Reuters.

  • India imposed a windfall tax on refined fuel exports last year and mandated that companies sell the equivalent of 50% of their gasoline exports and 30% of their diesel exports domestically in the current fiscal year to March 31.
  • The measures were put in place after private refiners were boosting exports to boost profits rather than ensuring supply for domestic markets.
  • The measures may curb imports of Russian oil products for re-export onto global markets.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.