Now Reading: Petrol, diesel prices hiked nearly Rs 5 per litre in 10 days
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Petrol, diesel prices hiked nearly Rs 5 per litre in 10 days
Petrol and diesel prices were raised by 87-91 paise on Saturday, taking the cumulative increase to nearly Rs 5 per litre in under 10 days as state-run oil marketing companies passed on…
The Story in Brief
Petrol and diesel prices were raised by 87-91 paise on Saturday, taking the cumulative increase to nearly Rs 5 per litre in under 10 days as state-run oil marketing companies passed on soaring international crude costs. The hikes end a prolonged freeze and follow elevated crude prices from the Hormuz disruption. CNG prices rose by Re 1 per kg, making a cumulative increase of Rs 4 per kg over three hikes. Despite the increases, oil firms continue absorbing losses: the petroleum ministry said state-run companies still lose Rs 750 crore a day. Fuel prices are now at their highest since May 2022.
Pump prices vary widely across states due to local VAT. States ruled by the INDIA bloc levy the highest effective VAT rates, Andhra Pradesh, Telangana, and Kerala have petrol above Rs 112 a litre. Six BJP-ruled states have petrol at or below Rs 102 a litre, having fully passed through the central excise cut of March 2026.
The Indian Opinion
The opposition charge that the centre overtaxes fuel ignores that pump prices are highest in opposition-ruled states because of their own VAT. The centre cut excise duty to Rs 3 per litre on petrol and zero on diesel in March, absorbing the crude shock for 76 days. Yet states like Telangana and Kerala levy 30 per cent plus cesses and have not reduced VAT. The real test is whether these states will now cut VAT to match the centre's relief. If not, the tax debate is disingenuous.
Sources (2): millenniumpost.in, millenniumpost.in (2)
This story was synthesised by AI from the 2 sources linked above.
