India Slaps Taxes on Fuel Exports as Iran War Jolts Supply (2)

India has announced a series of tax changes including a levy on fuel exports, as the country tries to shield consumers from the impact of a deepening conflict in the Middle East that has upended energy supply.

The South Asian nation imposed a 21.5 rupee (23 cents) per liter duty on exports of diesel and 29.5 rupees on jet fuel, Finance Minister Nirmala Sitharaman said in a post on X. “This will ensure adequate availability of these products for domestic consumption,” she said.

Shares of top private refiner Reliance Industries Ltd., a major exporter of fuels, fell 4.6% on ...