Page 62 - Policy Economic Report_Mar'25

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

July 2022 in response to the escalating price of crude oil. This tax is imposed by governments when an
industry unexpectedly generates substantial profits, typically attributed to an unprecedented event. A
windfall tax is imposed on domestically produced crude oil when the rates of the global benchmark
exceed $75 per barrel. For the export of diesel, aviation turbine fuel (ATF), and petrol, the levy is
applicable when the product cracks, or margins, surpass $20 per barrel.

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Research, analysis & compilation by:

Economic Policy & Planning Team - FIPI

Email: pankhuri@fipi.org.in

Note: The information contained herein is compiled from various sources considered reliable, but its
accuracy and completeness are not warranted, nor are the opinions and analyses that are based on it.
FIPI is not responsible for any errors or omissions, nor shall it be liable for any loss or damage incurred
by reliance on information or any statement contained herein. While reasonable care has been
exercised to ensure that no copyrights are infringed, in case there is any omission or oversight in this
regard, we may please be informed immediately.

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