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Indian Fuel Exports to Slow on Windfall Tax, Shipping Cap: FGE

July 6, 2022, 2:09 AM

India’s exports of gasoline and diesel are expected to slow in the coming months after the nation implemented a windfall tax and shipping cap to ensure sufficient domestic supply, according to a note from FGE.

  • The industry consultant revised down its export forecast for gasoline by 50k b/d for the remainder of the year, and trimmed its estimate for diesel by 90k b/d, according to the note dated July 5
    • Over the 1H of 2022, gasoline and diesel exports were 60k b/d and 75k b/d higher on average y/y, respectively
  • The shipping cap is less of a constraint to most ...