Govt raises windfall tax on diesel by ₹3, ATF by 50 paise per litre
Duty on petrol exports has been slashed to nil, from ₹2.5 per litre, for the next fortnight
The government has raised the price of high-speed diesel (HSD) by Rs2.29 per litre, increasing it to Rs402.96, while leaving the price of petrol unchanged at Rs377.91 per litre. This change, effective from October 31 to November 2, 2026, was announced by the Oil and Gas Regulatory Authority (OGRA) in a press release on Friday. The new prices were determined based on global developments, including fluctuations in Platts rates, premiums, and incidentals.
Earlier, on Thursday, the government increased the diesel price by Rs0.85 per litre to Rs400.67, maintaining the petrol price at Rs377.91 per litre. Recent global oil price trends indicate a rise across the board, with traders anticipating potential escalation in the US-Iran conflict following an attack on a tanker in the Strait of Hormuz, which highlighted supply risks from the ongoing war.
Brent crude futures for December, set to expire on Friday, recorded a gain of $2.74, or 2.4%, reaching $117.62 a barrel as of 1045 GMT. Meanwhile, the more active January contract saw a rise of $2.78, or 2.1%, to $113.58. US West Texas Intermediate (WTI) crude futures also increased by $2.18, or 2.1%, to $104.18.
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