Petrol now costs Rs 90.78 per litre in Delhi and a litre of diesel comes for Rs 81.10
BJP leader Sushil Kumar Modi on Wednesday said it is not possible to bring petrol and diesel under the GST regime for the next eight to 10 years
The collections on petrol and diesel rose to Rs 2.94 trillion in the first 10 months of the current fiscal
India's fuel demand, except ATF, has returned to pre-Covid levels and a reflating economy will help consumption grow in near future
Khanna on Friday said the Centre is ready to bring petroleum products under the Goods and Services Tax (GST) purview to provide relief to the common people but the states are not unanimous.
In Mumbai, the petrol price stood at Rs 97.57 per litre--the same since Feb 27. In Chennai, petrol was at Rs 93.11. Diesel was selling at Rs 86.45 in the city
Prices have stabilised amid an outcry over record-high fuel prices, which have been witnessing an upswing since January
Fuel prices in the country have remained steady for over a fortnight now even though global oil market remains volatile with regular variations in prices
Maharashtra Deputy Chief Minister Ajit Pawar on Wednesday demanded that petrol and diesel be brought under the Goods and Services Tax (GST)
'There is lack of political will to bring crude under the ambit of GST,' say economists at SBI
Sharanjit Singh Dhillon, SAD MLA from the Sahnewal constituency, told ANI that taxes on petrol and diesel are so high that people are unable to afford these items
Finance Ministry may take a final call on fuel tax cut following Opec's meeting this month, say sources
The rise in the petrol and diesel price has paused for the last couple of days as oil marketing companies have decided to wait and watch the developments on the global oil market
While consumers feel the petrol pinch directly, diesel hurts indirectly, as it is an input in almost all the goods and services we use
Similarly, in Mumbai, Chennai and Kolkata, the fuel was sold for Rs 97.57, Rs 93.11 and Rs 91.35 a litre respectively
Morgan Stanley expects Brent crude prices to climb to $70 per barrel in the third quarter
Most want centre to reverse Covid excise duty, states to prune VAT rate or replace ad valorem rate with flat tax structure
This comes as the prices of petrol and diesel are increasing continuously for several days and in some states, the price of petrol has even crossed Rs 100 mark
State finance minister says decision taken despite Amphan, Covid stress and dues from Centre running into Rs 77,000 cr, will bring marginal relief especially to farmers who use diesel
The West Bengal government on Sunday announced a reduction of tax by Re 1 per litre on petrol and diesel effective from midnight. State Finance Minister Amit Mitra said the move will provide some respite to people stung by burgeoning prices of fuel. "The Centre earns Rs 32.90 per litre in taxes from petrol, while the state gets Rs 18.46 only. In case of diesel, the central government's earning is Rs 31.80 per litre as against Rs 12.77 for the state," Mitra said. He also alleged that the Centre had imposed cess to avoid devolution with states, which is "against the characteristics of federalism". To a question, Mitra said the Union government should reintroduce the planning commission.