Petrol prices are rising every day at supermarkets, says RAC
- Author: Eleanor Harrison May 28, 2018,
May 28, 2018, 0:33
During that time more than 8ppl has been added to the average price at their pumps, analysis of RAC Fuel Watch data reveals.
"Goods and Service Tax (GST) is one way being looked into to ease the situation".
Reacting sharply to the Pradesh Congress Committee president Niranjan Patnaik's demand for an apology from Prime Minister Narendra Modi for allegedly siding with Chhattisgarh Government on the Mahanadi water dispute, Pradhan said the Congress posers to the PM before his Cuttack visit sound familiar as the BJD has put similar questions earlier.
Though Pradhan's proposal is not wrong but the State would have to lose a huge amount in terms of revenue collected as State taxes on each liter of petrol and diesel sold, if it reduces VAT.
"Both Centre and state have roles in controlling fuel price". Time will tell how the government and its policymakers will work their math to maintain a balance between economic stability and reducing the burden on the common man. The government needs to provide relief to consumers, complaining not only of higher crude prices but also significantly higher taxes. Brent, the benchmark global rate for petrol, continues to remain in the high range increasing the pressure on the government to cut excise duty on petrol and diesel.
Since 14 May, rates have gone up by Rs2.84 a litre in case of petrol and Rs2.60 in diesel. In other words, 44.7% of retail price of petrol and 38.09% retail price of diesel go as Central taxes. State sales tax or VAT varies from state to state. The BJP-ruled states may be nudged to take the lead on this. It is learnt that Indians living on the borders of the above two countries draw their requirement of petrol and diesel from across the borders at nearly half the rates. It should be noted that petrol and diesel prices have increased by 30 paise and 26 paise respectively on Wednesday. This can be done by avoiding unnecessary use of personal vehicle and using public transport, they opined.