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Petrol cheaper from Monday, but diesel to cost more

NEW DELHI: While petrol will be cheaper by 92 paise from Monday, diesel will cost 37 paise more. The Delhi government may have kept its promise but, at the same time, it has reversed its last year’s decision to waive off 12.5% value added tax on the Rs 3.37 hike on diesel that was announced by the Centre in 2011.

Currently priced at Rs 71.16, petrol will cost Rs 70.24 once the decision notified by the office of the lieutenant governor of Delhi becomes effective from Monday. The Delhi government had declared that it would waive off 20% VAT on the hiked price of petrol announced by the Centre last month. Diesel, priced at Rs 40.91, will now be available for Rs 41.28.

Presenting the budget for 2012-13 on May 28, chief minister Sheila Dikshit had proposed to provide relief from the steep Rs 7.54 hike in the petrol price by slashing the 20% VAT on the hiked component. Forgoing the VAT would have resulted in a cut in petrol price by Rs 1.26. Later on June 3, the Centre rolled back the hike component in the capital by Rs 2.02. Thus, the Delhi government’s plan to cut down the 20% VAT on hiked component of every litre of petrol came down to 92 paise.

The decision to reverse the diesel waiver has come as a welcome move for the city that is reeling under massive levels of pollution due to a growing number of vehicles. Delhi already imposes a cess of 40 paise on sale of each litre of diesel and the government has been thinking of measures to curb the number of diesel vehicles on roads.

“It is not much but at least it is a start. The price difference between petrol and diesel is still too much to have an impact on their sales,” said an environmentalist.

The decision to reverse the diesel waiver has come as a welcome move for the city that is reeling under massive levels of vehicular pollution

Short URL: http://www.cckerala.com/?p=11894

Posted by on Jun 17 2012. Filed under Business India News. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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