India has imposed export restrictions and taxes of INR6/litre (US$7.6c/litre) for gasoline and jet fuel, and INR13/litre (US$16.5c/l) for gasoil. Restrictions require oil companies to sell to the domestic market the equivalent of 50% of the volume exported for the fiscal year ending on 31 March 2023 and 30% for diesel. Furthermore, the country introduced an INR23,250/ton (US$295/ton) additional tax on crude oil produced domestically.
In 2021, India produced 5,4 mb/d of refined products (+9% compared to 2020), including 2.2 mb/d of diesel and 0.9 mb/d of gasoline. The country exported 1.4 mb/d of refined products in 2021 (or about a quarter of its production), including 0.7 mb/d of diesel and 0.4 mb/d of gasoline. A third of the country's diesel production is exported and 45% of its gasoline output.
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