Petrol and diesel prices will be hiked by Rs. 2 per litre from tomorrow after the Maharashtra government decided to increase the cess levied on the two fuels. Petrol and diesel prices will increase to Rs. 78.31 a litre and Rs. 68.21 a litre, respectively. Presently, petrol costs Rs. 76.31 per litre whereas the diesel retails at Rs. 66.21 per litre. In addition to the 26 per cent and 24 per cent value added tax (VAT) on petrol and diesel, respectively, the state government has decided to increase cess on the fuels.
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The Maharashtra government on Saturday officially issued a notification mentioning a hike in cess for petrol and diesel. The notification highlighted an increase of cess for petrol from Rs. 8.12 per litre to Rs. 10.12 per litre. The cess on diesel has been increased from Re. 1 per litre to Rs. 3 per litre.
The cess on diesel has been increased from Re. 1 per litre to Rs. 3 per litre.
Indian state fuel retailers have sold about 17 per cent less petrol and about 26 per cent less diesel in March compared to a year ago as fuel demand in India declined due to steps taken to curb spread of the coronavirus. Regions like Delhi-NCR, Chandigarh, Bengaluru, Mumbai and Pune were among the first ones where fuel prices went up as soon as the lockdown was implemented. Many state governments have also imposed value added tax (VAT) on petrol and diesel prices leading to an increase in retail rates.
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