As fuel prices continue to rise with petrol and diesel prices increasing by 80 paise per liter on Sunday, there has been an overall increase in rates in less than two weeks. 8 per litre. As per available price list, Normal Petrol in Parbhani, Maharashtra is being sold at 121.38 and the price of diesel is 103.97.
Meanwhile, Sri Ganganagar in Rajasthan is also witnessing rapid growth. fuel rates as petrol is sold on 120.73 and diesel is sold for Rs 103.30.
“The cost of fuel in Parbhani is high as it is brought from the Manmad depot, which is more than 340 km away. We have sought setting up of a depot in Aurangabad, which will bring down the fuel prices. 2 per litre,” said Amol Bhedsurkar, president of Parbhani Petrol Dealers Association. PTI, He said that if fuel is brought under GST then people will get maximum relief.
In addition to local taxes, rates are also dependent on freight.
In view of the sharp rise in the prices of crude oil in the international markets, the prices are bound to increase further. This will have a cascading effect on the prices of other commodities and will lead to inflationary pressures and hurt growth by affecting the prices of other commodities as well.
Significantly, on November 3 last year, the Center had cut the excise duty by how much? 5 per liter on petrol and 10 per liter on diesel to reduce retail prices across the country.
Subsequently, several state governments reduced the Value Added Tax (VAT) on petrol and diesel to provide relief to the people.
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