Nirmala Sitharaman says international crude prices, diesel, petrol and ATF prices had risen sharply recently, and crude producers were making super normal profits
Amid the announcement, shares of three out of four oil producers and refiners are down. RIL stock is up 0.16%, while ONGC, GAIL, IOC are down by 1.39%, 1.77%, and 0.28%, respectively
Centre has imposed special additional excise duty of ₹6/litre on petrol export and ₹13/litre on diesel export. Special additional excise duty of ₹6 per litre was also imposed on ATF export too
