The Centre has revised export levies on petrol, diesel and aviation turbine fuel (ATF) for the fortnight beginning June 1, 2026, maintaining domestic fuel rates unchanged. According to the latest government notification by the Ministry of Finance, petrol exports will attract a duty of ₹1.5 per litre, diesel exports ₹13.5 per litre, and ATF exports ₹9.5 per litre. The government has significantly reduced windfall gains tax on fuel exports, cutting it to ₹1.5 per litre for petrol from ₹3, diesel rates to ₹13.5 from ₹16.5 per litre, and ATF to ₹9.5 from ₹16 per litre. The export levies, comprising the Special Additional Excise Duty (SAED) and Road and Infrastructure Cess (RIC), were introduced on March 27, 2026, to ensure domestic availability of petroleum products by discouraging exports in the backdrop of the West Asia crisis. The latest revision represents a reduction in special additional excise duty (SAED) on fuel exports, as reported by The Times of India. The revised rates have been prescribed based on the average international prices of crude oil, petrol, diesel and ATF prevailing during the period since the last review on May 16, 2026.
Despite recent volatility, petrol and diesel prices remained largely unchanged on June 1, 2026, with only minor adjustments across cities. According to the latest fuel price data, petrol prices in Delhi stand at ₹102.12 per litre, while diesel costs ₹95.20 per litre. However, regional variations show significant price differences, with Kolkata recording the highest petrol price at ₹113.51 per litre and diesel at ₹99.82 per litre, followed by Mumbai with petrol at ₹112.21 per litre and diesel at ₹97.83 per litre. The price disparities reflect the impact of global oil prices, which have risen due to ongoing conflict in the Middle East, with Brent crude climbing toward $93 per barrel and US benchmark West Texas Intermediate trading near $89 per barrel. State-owned oil firms are currently incurring losses of ₹1,600-1,700 crore per day, over ₹1 lakh crore in 10 weeks amid the crisis, as reported by NDTV Profit.
Several key financial changes are set to take effect from June 1, 2026, with oil marketing companies revising both LPG cylinder prices and air turbine fuel (ATF) prices on the first day of every month. According to reports, cylinder prices have witnessed increases in recent months amid the ongoing Middle East crisis, with a 14-kilogram domestic LPG cylinder in Delhi currently costing ₹913 and a 19-kilogram commercial cylinder priced at ₹2,078. ATF prices currently stand at ₹104,927 per kilolitre in Delhi, with changes in ATF prices directly affecting airline operating costs and influencing airfares. The ongoing tensions in West Asia have significantly impacted jet fuel prices in recent months.
HDFC Bank will implement revised rules for current accounts and certain other accounts from June 1, 2026, introducing new limits and charges for deposits involving small denomination notes and coins. As reported, until now, there was no monthly limit on such deposits, although a charge of around 4 per cent was levied on note deposits and approximately 5 per cent on coin deposits. Under the revised rules, the monthly limit for notes of ₹20 or less will be ₹10,000, while the monthly limit for coin deposits will be ₹5,000. Deposits beyond these limits will attract an additional 2 per cent charge.
A major change from June 1 relates to solar panels, with the Approved Model and Manufacturer List (ALMM List-II) for solar panels coming into effect. According to reports, under the revised framework, only solar modules and cells included in the approved list will be permitted for use in government schemes and subsidised projects. The move is aimed at ensuring quality standards, though there are concerns that solar panel prices could rise following implementation. This regulatory change will significantly impact the solar sector and government-backed renewable energy projects.
