Petrol, Diesel Prices Cut by Rs 2 in Karnataka as HD Kumaraswamy Reduces Cess on Fuel

Bengaluru, Sep 17: The Karnataka government on Monday announced a cut in cess on petrol and diesel that will recuce fuel prices in the state. The state government announced reduction of Rs 2 on petrol and diesel. Following the announcement, fuel rates will go down by Rs 2 across the state. The decision comes in the wake of rising petrol and disesel prices across the country.

Prices of petrol and diesel have been going up almost daily since August 1. They fell only once on August 13 and have been on record levels for nearly two weeks now. The rising prices have burnt a hole in the pockets of consumers. On Monday, petrol price saw an increase of 15 paise. Petrol is being sold at Rs 82.06 per litre in Delhi and Rs 89.44 per litre in Mumbai. Petrol, Diesel Price Rise Effect: Daily Use Products, Smartphones to Cost 5-8 Per Cent More as Fuel Rate Soars.

While the central government has ruled out any reduction in the excise duty on petrol and diesel, state governments of Rajasthan, Andhra Pradesh and West Bengal recently reduced the excise on petrol and diesel. The constant rise in fuel prices is primarily attributed to high crude oil prices and a falling rupee. Various central and state taxes make petrol and diesel costlier in the country.

Mumbai has the highest VAT of 39.12 per cent on petrol, while Telangana levies the highest VAT of 26 per cent on diesel. Under fire, Union Petroleum and Natural Gas Minister Dharmendra Pradhan recently blamed 'international factors' for rising prices.

(The above story first appeared on LatestLY on Sep 17, 2018 10:26 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).