‘Central and State levies account for lion’s share of fuel price’
Already reeling under difficult market conditions following national lockdown, transporters have protested against fuel price hike.
“Over the last five days Oil Marketing Companies have increased the price of petrol by ₹2.74 a litre and that of diesel by ₹2.83 a litre in New Delhi and across the country, much to the chagrin of the road transport fraternity and farmers community.
The central government has increased excise duty twice on both, petrol and diesel, and most state governments have hiked cess or value added tax on fuel for their part,” AIMTC has stated.
High taxes
About 70 per cent of the retail price of fuel is Central and State taxes. On the base price of diesel and petrol, this is
275 per cent and 255 per cent respectively, they added. The road transporters protested against the daily hikes that are making their operations unviable.
Source: The Hindu Business Line
