India resets fuel export levies in fortnightly review
India removed the ₹2.50 per litre petrol export duty but raised diesel and ATF levies to ₹11.50 and ₹11 per litre. Fortnightly reviews will continue, while Reliance Industries futures showed short build-up ahead of the next tax review.
after close2 sources ↓machine-written, see hownot a recommendation
- RELIANCE close
- ₹1,165
- On the day
- -0.21%
- Futures OI, short build-up
- +1.8%
- Put-call ratio
- 0.66
- Max pain
- ₹1,200
The government withdrew the special additional excise duty on petrol exports and raised levies on diesel and aviation turbine fuel exports through notifications issued on 31 Oct 2026. The petrol export duty fell to zero from ₹2.50 per litre, while the diesel levy rose from ₹8.50 to ₹11.50 per litre and the ATF levy increased from ₹10.50 to ₹11 per litre.
Key Points:
• Petrol exports are now exempt from the earlier ₹2.50 per litre duty, improving export realisations for refiners selling petrol overseas.
• Diesel and ATF exports face higher costs, with the levies rising by ₹3 per litre and 50 paise per litre, respectively. That reduces overseas realisations on those products and keeps refining economics sensitive to product cracks and crude prices. Energy ⚡ and aviation markets are directly affected.
• The government continues to review fuel export taxes every fortnight, allowing further changes as domestic availability and international market conditions evolve. The policy was introduced in late March after the Middle East conflict disrupted energy supplies and lifted international crude prices.
The changes adjust the incentive for refiners to prioritise exports over domestic supply. The removal of the petrol duty supports petrol export margins relative to the earlier regime, while higher diesel and ATF levies can weigh on returns from overseas sales. The policy therefore matters for refining-sector earnings, product allocation and fuel availability. ✈️
OI Charts data showed Reliance Industries at ₹1,165 on 30 Oct 2026, down 0.21% for the session. Volume was 14,753,650 shares, while the stock had declined 3.6% over five sessions and 2.7% over 20 sessions. It traded near its 52-week low of ₹1,152 recorded on 13 Oct 2026, against a 52-week high of ₹1,612 on 5 Jan 2026.
Its futures open interest rose 1.8% to 163,525,500 shares, indicating a short build-up, while the futures premium stood at 0.50%. For the 23 Nov 2026 expiry, ₹1,200 was the key reference level, with the largest call open interest and max pain at that strike. The largest put open interest was at ₹1,100 and the put-call ratio was 0.66. Traders will next watch the fortnightly tax review, crude prices, product margins and any change in domestic fuel availability.
Source: The Economic Times and Sarkaritel.com, 31 Oct 2026
Not investment advice. For informational purposes only.