New Delhi, Oct. 16 -- The Centre has cut the windfall tax on diesel exports while raising the levy on petrol exports for the fortnight beginning 16 October, amid escalating tensions in West Asia and rising oil prices.

The combined rate of special additional excise duty (SAED) and road and infrastructure cess on diesel exports has been cut to Rs.8.50 per litre from Rs.16 per litre. The SAED on petrol exports has been raised to Rs.2.50 per litre from Rs.0.50 over the previous fortnight. The levy on aviation turbine fuel (ATF) remains unchanged at Rs.10.50 per litre.

Amid escalating tensions in West Asia, the government imposed an export duty on diesel and ATF on 27 March, revising the rates every fortnight. The levy was extended to petrol...