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The government has levied an export tax on petrol and diesel as international prices have surged, Petroleum and Natural Gas Minister Hardeep Singh Puri said on Friday, signalling a calibrated move to prioritise domestic supply and cushion consumers from global volatility.“Export tax has been levied as international prices of petrol and diesel have skyrocketed and any refinery exporting to foreign nations will have to pay export tax,” Puri said in a post on X.The move comes against the backdrop of a sharp rally in global crude prices, which have climbed from about $70 per barrel to nearly $122 per barrel over the past month. The surge has triggered steep retail fuel price increases across regions—ranging between 30% and 50% in Southeast Asia, around 30% in North America, 20% in Europe and as much as 50% in parts of Africa, Puri said.He added that the government faced a binary choice: pass on the full impact of rising global prices to consumers, as seen in many countries, or absorb part of the burden to shield Indian households.Under the leadership of PM Modi, the Centre opted to take a fiscal hit to moderate domestic fuel prices, continuing its approach since the onset of the Russia-Ukraine conflict, he said.The government has foregone significant tax revenues to offset under-recoveries of oil marketing companies, currently estimated at about Rs 24 per litre for petrol and Rs 30 per litre for diesel, Puri said.Finance Minister Nirmala Sitharaman has backed the intervention, which also seeks to disincentivise exports amid elevated global prices and ensure adequate domestic availability.Puri described the decision as “timely, bold and visionary”, underscoring the government’s focus on insulating consumers while maintaining supply stability.