Petrol prices were reduced by 11 paise and diesel prices by 10 paise, applicable from 6:00 a.m. on 21st June 2018.
The reduction in diesel prices come after a pause of four consecutive days. Fuel prices reached al-time high after state-owned oil firms lifted pre-Karnataka poll hiatus to resume daily price revisions from May 14. However prices started to fall towards the month-end and are off-record highs now.
Amidst constant calls to bring fuel prices under GST, a top government official yesterday said that peak tax rate of 28 percent plus states levying some amount of local sales tax or VAT on petrol and diesel is likely to be the tax structure when the two auto fuels are covered under the regime, . Read More