Overview
- The Finance Ministry notified lower export levies effective June 1, setting petrol exports at ₹1.5 per litre, diesel at ₹13.5 per litre and aviation turbine fuel at ₹9.5 per litre.
- Domestic excise and retail tax rates for petrol and diesel were left unchanged, and pump prices held steady after a string of increases in May that raised transport fuel to elevated levels in major cities.
- Oil marketing companies raised commercial LPG (19-kg) cylinder rates from June 1 by about ₹42–₹53.50 depending on city while household LPG cylinder prices remained unchanged.
- The government says stocks of petrol, diesel and LPG are sufficient, has ordered OMCs to hold around 30 days of LPG reserves and has stepped up enforcement with thousands of raids and multiple FIRs to deter hoarding and diversion.
- Officials link the policy moves to volatile global prices driven by the West Asia conflict, note state-run OMCs are absorbing large daily losses to shield consumers, and plan another duty review in mid-June.