[ad_1]
Tax rates have increased across the country and vary from state to state based on local tax rates (VAT).
This is the third day in a row that gasoline and diesel prices have risen since state fuel retailers ended an 18-day suspension of tariff revision during parliamentary elections in states like West Bengal.
Within three days, the price of petrol has risen by 59 paise per liter and the price of diesel by 69 paise, which neutralizes most of the reduction that took place between March 24th and April 15th.
After the gasoline price rose by a record 21.58 rupees per liter and the diesel price rose by 19.18 rupees since the government raised excise tax to an all-time high in March last year, state fuel retailers IOC, BPCL and HPCL had the Petrol price reduced by 67 rupees per liter and diesel by 74 paise per liter between March 24th and April 15th.
Oil companies, which had resorted to an inexplicable freeze on the rate revision in the past few months, paused on April 15 after cutting prices slightly.
As soon as the vote was over, the oil companies indicated an imminent rise in retail prices, given the consolidating trends in the international oil markets.
Despite concerns over rising COVID-19 cases in India, which weighed on demand, crude oil prices in the international market have risen largely due to the strong recovery in US demand and a weak dollar.
Prices have been in a continuous upward trend since April 27th. According to an industry official, crude oil prices are close to $ 70 a barrel.
Central and state taxes make up 60 percent of the retail sales price of gasoline and over 54 percent of diesel. The union government charges 32.90 rupees per liter of excise tax on gasoline and 31.80 rupees on diesel.
In Mumbai, the price of gasoline was raised from 97.12 to 97.34 rupees per liter on Thursday, while diesel tariffs were increased from 88.19 to 88.49 rupees, the price report showed. ANZ DRR DRR
[ad_2]
