Following the Lok Sabha elections, the Karnataka government raised the price of petrol and diesel. As of today, petrol prices have increased by Rs 3 per litre, while diesel prices have climbed by Rs 3.05 per litre. These changes become effective immediately.
Details of the price increase
The Karnataka government altered fuel sales tax rates, resulting in the price increase. The sales tax on gasoline has been raised from 25.92% to 29.84%, while the tax on diesel has gone from 14.3% to 18.4%. As a result, retail prices for gasoline and diesel across the state have risen.
New Fuel Prices in Bangalore.
With the new sales tax rates, the price of petrol in Bangalore has risen from Rs 99.84 to Rs 102.84 per liter. Similarly, fuel prices rose from Rs 85.93 to Rs 88.95 per liter. This increase has raised fuel prices in Bangalore compared to Delhi, where petrol costs Rs 94.72 per litre and diesel costs Rs 87.62 per litre.
Impact on Consumers
Many people expected petrol costs to fall after the Lok Sabha elections, so this sudden increase has caught them off guard. Fuel price increases are expected to have an impact on both consumers and companies, increasing transportation costs and altering the overall cost of living.
Conclusion
Fuel prices have increased significantly throughout the state of Karnataka as a result of the government’s decision to hike the sales tax on gasoline and diesel. The increased cost of gasoline and diesel for consumers in Bangalore and other Karnataka cities may have wider economic ramifications for the area.
Source: Petrol, Diesel Price Hike: Karnataka Government Raises Fuel Rates By Rs 3 Per Litre (msn.com)
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