Recent updates indicate that petrol and diesel prices have increased in Karnataka. We’ll break down what this means for you and the specifics of the new rates at the pump. The government has announced that the price of petrol will rise by ₹3 per liter, and diesel by ₹3.50 per liter. This price hike is expected to generate an additional ₹2,500-2,800 crore during the financial year.
Details of the Price Hike
According to official sources, the price hike on petrol and diesel is confirmed. The Finance Department’s notification states that the sales tax on petrol has been raised by 3.92 percentage points, and on diesel by 4.1 percentage points.
How Much More Will You Pay?
Here are the new prices you’ll be paying at the gas station:
- Petrol: Increased by ₹3 per liter.
- Diesel: Increased by ₹3.50 per liter.
Here is a table comparing the old and new prices for petrol and diesel after the increase:
Updated Fuel Prices in Bengaluru
| Fuel Type | Old Price (₹/liter) | Price Increase (₹/liter) | New Price (₹/liter) |
|---|---|---|---|
| Petrol | 99.84 | 3.00 | 102.84 |
| Diesel | 85.93 | 3.02 | 88.95 |
Source: https://www.hindustantimes.com/india-news/karnataka-hikes-petrol-and-diesel-prices-by-rs-3-per-litre-check-latest-rates-101718451815076.html
New Sales Tax Rates
- Petrol: Increased from 25.92% to 29.84%.
- Diesel: Increased from 14.34% to 18.44%.
When Does This Take Effect?
These new prices are effective immediately, as of the date the notification was issued.
Why Did the Government Raise Taxes?
The government aims to boost its revenue collection through this move. This comes after a review of the state’s financial situation.
Looking for Current Prices?
While exact prices may vary slightly by location, you can expect to pay around ₹99.84 per liter for petrol and ₹85.93 per liter for diesel in Bengaluru (as of June 15, 2024).
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