The Punjab government increased the Value-Added Tax (VAT) on fuel by 10% on Sunday, leading to an increase in the price of petrol and diesel in the state by 92 paise per litre and 88 paise per litre, respectively.
According to a notification issued by the state government, the hike in VAT will lead to an increase in the prices of petrol and diesel by one rupee per litre. In Mohali, petrol will now cost Rs 98.95 per litre, while diesel will cost Rs 89.25 per litre. In Chandigarh, petrol will cost Rs 96.20 per litre, while diesel will cost Rs 84.26 per litre.
This is the second time this year that the prices of fuel have been increased in the state.
Petroleum Minister Hardeep Singh Puri said yesterday that oil companies may reduce petrol and diesel prices if international crude oil prices remain stable and the companies have a profitable next quarter.
The Narendra Modi-led government has prevented a rise in oil prices since April 2022, said the BJP leader, adding that the government will ensure that consumers do not face any hardship.
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