India

Karnataka Raises Petrol And Diesel Prices By ₹3 Per Liter

Petrol and diesel prices in Karnataka have risen following the state government’s revision of the sales tax on Saturday. A recent gazette notification disclosed that the sales tax on petrol and diesel has been increased by 29.84% and 18.44%, respectively.

The Petroleum Dealers Association has indicated that these changes are expected to raise petrol prices by approximately ₹3 and diesel prices by about ₹3.05 in Karnataka, according to ANI. Consequently, petrol prices in Bengaluru have climbed to ₹102.84 per liter, up from ₹99.84. Diesel has also seen an increase, with the price rising from ₹85.93 to ₹88.95 per liter.

The hike in fuel prices has sparked concern among residents. Chandan, a local biker, expressed his worries to ANI, highlighting the financial strain on individuals earning modest salaries: “The rich can afford petrol, but where does that leave us? I work at a BPO, and now with a ₹15,000 salary, this price increase will have a significant impact.”

Also read: Sharad Pawar’s “We Thank PM Modi” At Press Meet With Allies: A Sharp Swipe

The Karnataka government’s decision aims to boost state revenues. However, this adjustment is expected to have broader economic effects, particularly in sectors like transportation and logistics, which might pass on increased costs to consumers.

In related news, just hours before Karnataka’s tax revision, the central government reduced the windfall tax on domestically produced crude oil. The Special Additional Excise Duty (SAED) was cut from ₹5,200 to ₹3,250 per tonne. The tax on the export of diesel, petrol, and jet fuel has been maintained at zero.

These adjustments reflect ongoing evaluations of the oil market, with tax rates being updated biweekly based on the average oil prices from the preceding two weeks.

Kavya Bhatt

Recent Posts

PM Modi Calls India-Central Asia Partnership ‘Force Multiplier’ For Regional Global Stability

PM Narendra Modi met with the Foreign Ministers of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan…

24 mins ago

PM Modi, Canadian PM Carney Hold Talks; India To Attend G7 Summit In June

PM Narendra Modi spoke with Canada's new Prime Minister Mark Carney on Friday, congratulating him…

1 hour ago

Vedanta Boosts Green Energy Push; Surpasses 1 GW Renewable Energy Mark

On the occasion of World Environment Day, Vedanta Ltd announced a significant milestone in its…

2 hours ago

FDI Inflows In India Surpass $500 Billion In A Decade; Driven By Key Reforms

India attracted over $500 billion in foreign direct investment (FDI) equity inflows between 2014 and…

3 hours ago

PM Modi Takes Dig At Pakistan For Attacking ‘Insaniyat’ & ‘Kashmiriyat’

PM Narendra Modi strongly condemned Pakistan for the Pahalgam terror attack, accusing it of trying…

3 hours ago

PM Modi Attacks Pakistan Over Pahalgam Terror Incident; Hails Operation Sindoor

PM Narendra Modi on Thursday launched a scathing attack on Pakistan for attempting to derail…

4 hours ago