Petrol, Diesel Prices See Big Hike Today
India: After being stable for about 50 days, the price of diesel went up by ₹7.10 a litre in Delhi and that of petrol by ₹1.67 per litre today after the Delhi government increased value added tax (VAT) on the two auto fuels.
Petrol prices in Delhi rose to ₹71.26 a litre as against ₹69.59 per litre while diesel rates climbed to ₹69.39 a litre as against ₹62.29. VAT on petrol has been increased to 30% from 27% while VAT on diesel has been almost doubled to 30% from 16.75% by the Arvind Kejriwal government in Delhi.
Faced with massive revenue losses during the coronavirus lockdown, which has been extended now for the second time, several state governments have been increasing VAT on fuels which are currently out of the purview of goods and services tax (GST).
