India raises windfall tax on petroleum crude to 6,800 INR per metric ton, marking the 5th increase since February.

India raises windfall tax on petroleum crude to 6,800 INR ($81.43) per metric ton, marking the fifth increase since February. The tax, revised fortnightly, remains at zero for diesel and aviation turbine fuel. Introduced in July 2022, the tax targets crude oil producers and exports of gasoline, diesel, and aviation fuel due to private refiners wanting to sell fuel overseas for better margins.