Reuters exclusively reported that India intends to extend restrictions on the export of diesel and gasoline at the end of the month to ensure availability of refined fuels for the domestic market. The extension of rules may discourage some Indian refiners from buying Russian fuels for re-exports. The restrictions were introduced after private refiners, including Reliance Industries (RELI.NS), began reaping profits by aggressively increasing exports rather than domestic sales. After the Reuters report, shares of Reliance fell as much as 1.71% to 2,184.15 rupees, the lowest since March 8, 2022.
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