New Delhi, March 27 -- 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 in top private refiner Reliance Industries Ltd., a major exporter of fuels, fell as much as 2.9% on the news.

India has also reduced taxes on locally sold gasoline and diesel by 10 rupees per liter each, a reduction intended to help ...