Petroleum marketing companies (OMCs) hiked gasoline and diesel prices on Thursday after holding them steady for two consecutive days. The price of gasoline has been increased to 35 paise a liter and diesel up to 37 paise, according to a price notification from state-owned fuel retailers.
Prices differ from state to state depending on the incidence of local taxes.
Meanwhile, Kerala Finance Minister KN Balagopal said on Wednesday that including petroleum products in the GST (goods and services tax) would not help lower fuel prices and that prices would not help reduce fuel prices. would only decrease if the Center waived the tax on gasoline and diesel. To counter the claim that including gasoline and diesel under the GST would lower fuel prices, the minister cited rising gasoline prices, which are already under the GST.
(Edited by : Anshul)
First publication: STI