Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTTsvetana ParaskovaThu, July 16, 2026 at 10:30 AM GMT+2 2 min readIndia has hiked the export duties it will be charging on exports of diesel and jet fuel for the two weeks starting July 16, as the return of the Hormuz crisis is set to further tighten fuel markets.The export taxes on diesel and aviation fuel were nearly doubled per liter of the fuels, a notice from India's Finance Ministry showed on Thursday.India reviews its export duty policy every fortnight to account for the prevailing domestic and international market conditions, including supply and prices.In the latest review for the period July 16 to July 31, India will have a levy on diesel exports at 15.50 rupees ($0.16) per liter, up from 8.5 rupees. The jet fuel export taxes were also hiked to 14.5 rupees a liter from 7.5 rupees in the first half of July. India, however, lowered the export duty on gasoline sales overseas to 2.5 rupees a liter, from 4 rupees.Despite nearly doubled duties on diesel and jet fuel exports, the levies remain a fraction of the heights from the early weeks of the Iran war, when export taxes were three to four times higher than today's amid spiking crude oil prices and a collective Asian scramble for crude oil supply not needing the Strait of Hormuz to reach buyers.Analysts expect that the hiked export duties could curb some of high Indian fuel exports, which is not good news for the global fuel market that is already exceptionally tight on diesel stocks, amid a Russian ban on exports after Ukraine crippled Russia's refining capacity in a months-long campaign of drone attacks."The real stress in energy markets is not in crude oil but in refined products," Ole Hansen, Head of Commodity Strategy at Saxo Bank, said earlier this week."While Brent has rallied back above USD 80, diesel, gasoil and jet fuel continue to command exceptionally strong premiums as low inventories, refinery disruptions and peak seasonal demand tighten product availability."By Tsvetana Paraskova for Oilprice.comMore Top Reads From Oilprice.comBrent Futures Flip to Backwardation as Middle East Supply Risks ReturnU.S. Gasoline Prices Could Hit $4 Per Gallon Within DaysUtility-Scale Solar Costs Rise 18% but Remain Cheapest Power SourceOilprice Intelligence brings you the signals before they become front-page news. This is the same expert analysis read by veteran traders and political advisors. Get it free, twice a week, and you'll always know why the market is moving before everyone else.You get the geopolitical intelligence, the hidden inventory data, and the market whispers that move billions - and we'll send you $389 in premium energy intelligence, on us, just for subscribing. Join 400,000+ readers today. Get access immediately by clicking here.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info