Posted on 05/10/2018
Petrol and diesel prices are at an all-time high in India. After a long rally of fuel prices, Finance Minister Arun Jaitley today on 04 October, announced marginal relief for citizens with a cut in petrol and diesel excise duty and urged the State Government to reduce the VAT on Fuels. A cut of Rs. 1.50 in Excise duty and another Re 1 drop by oil marketing companies, taking the cut in fuel prices to Rs. 2.50.
FM Arun Jaitley appealed to the states to match the centre’s effort by reducing VAT (value-added tax) by Rs. 2.50 so that the total benefit to citizens is at least Rs. 5. Immediate after his appeal, Six BJP-ruled states — Uttar Pradesh, Gujarat, Maharashtra, Chhattisgarh, Assam and Tripura, responded by dropping fuel prices by Rs. 2.50. After the tax cut at central and state level, both petrol and diesel will be cheaper by Rs 5 in these states.
Rajasthan is yet to announce the latest cut on fuel prices. Last month the Rajasthan Government announced a reduction in the VAT on fuel prices by 4 per cent to give relief to the customers. With the latest move, prices of petrol and diesel in the poll-bound state come down by Rs 2.5 a litre in the state.
In Rajasthan, Petrol price revised by 15 and diesel by 20 Paise per Litre on October 04, 2018, Petrol price in Rajasthan is Rs. 84.47 and Diesel is Rs. 77.78 Per Litre including Rajasthan State govt and Central Excise taxes. Jharkhand has reduced diesel prices by Rs. 2.50, but not of petrol. All BJP-ruled states are expected to cut fuel prices sooner as reported in media.