For the first time ever, petrol price in Chennai goes above Rs 100 per litre!!
Posted on: 02/Jul/2021 8:57:34 AM
Who would have thought that one day the petrol prices would be more than Rs 100 per litre in Chennai!!
With one litre of petrol costing Rs 100.13 on Friday, the pump prices of petrol would breach Rs 100 mark for the first time ever in Chennai. Diesel would cost Rs 93.72 per litre in Chennai. The increase in the prices of crude oil has played its part in the increase in the petrol prices. It is now brought out that the increase has been sharper and the customers are charged higher pump price due to the taxes that accounts for 58% of the petrol cost and 52% diesel cost.
From $63.4 in April, Indian basket of crude is now $ 72 a barrel. It must be noted that the price of petrol would not be cut now because there is no move at the federal level to cut excise duties. It is mentioned that the states also do not want to blink and cut value added tax or VAT on auto fuels. This was according to an officer belonging to an oil marketing company.
Information is that auto fuels are not part of GST and therefore they attract excise duties and VAT from the state governments.
