New Delhi, May 8 -- India's exports of diesel and petrol witnessed a significant decline of 20 per cent year-on-year, amounting to USD 33 billion in the fiscal year 2023-24.

This drop in export revenues can be attributed to the stabilisation of international fuel prices after the market disruptions caused by the Russia-Ukraine war in early 2022.

Despite the decline in value, the combined export volumes of petrol and diesel remained relatively unchanged at 41.6 million metric tonnes during the same period, according to data from the oil ministry.

Diesel, which accounts for the largest share of export revenues for Indian refiners, fetched USD 22 billion out of the total USD 48 billion earned from refined fuel exports in 2023-24.

While t...