Kerala cuts tax on petrol, diesel by Re 1

Kerala cuts tax on petrol, diesel by Re 1

After a constant hike for over 16 days, petrol and diesel prices have dipped for the first time by 1 paisa.

The Centre has been resisting the clamour for duty cuts to rein in surging prices.

Under the Finance Bill 2018, tax on diesel, petroleum, crude oil and high-octane fuel would be increased from Rs10 per litre to Rs30.

Congress spokesperson RPN Singh said the high fuel prices have adversely impacted the people, especially the middle class and farmers, which has led to agitation across the country.

Pradhan also said that Kerala was one of the highest tax collecting states. A litre of diesel in Delhi now costs Rs 69.25, down from Rs 69.30. This is especially big when you consider the fact that earlier today the centre announced a price reduction of just 1 paisa.

"No BJP-ruled state has done this so far". However, after a 16-day continuous rise, the Indian Oil Corporation announced that the price has actually been lowered.

More news: Belgium Shooting: Gunman Disarmed Police

State-run oil companies had resumed the dynamic pricing mechanism on May 14 after prices were froze for 19 days between April 24 and May 13, when campaigning was on for the Karnataka Assembly elections.

The Modi government has raised the excise duty on diesel by 343 per cent from Rs 3.46 in May 2014, when it came to power, to Rs 15.33 per litre now.

During one year, the government increased the price of diesel by Rs15.76.

The Left party also asked the people to protest against such anti-people policies of the government.

A file image of Kerala chief minister Pinarayi Vijayan. PTI.

Indian Oil Corp's website, the key source of fuel pricing information, showed that petrol and diesel rates had been cut by 60 paise and 56 paise a litre, respectively, on Wednesday morning.

Related Articles