The Rajasthan government on Friday cut the Value Added Tax (VAT) by 2 percent on Diesel and Petrol. After this deduction, now VAT on petrol and 26 per cent on diesel will be applicable. Let us know that the prices of petrol and diesel are decided by Crude and Forex rates. However, retail rates vary from state to state due to local sales tax or VAT.
Announcing the reduction in VAT, Rajasthan Chief Minister Ashok Gehlot has requested the central government to cut VAT. In a tweet, Galhot said, the state government has reduced VAT on both petrol and diesel by 2 percent to give relief to the people of Rajasthan. We hope that the Central Government will announce the cuts so that the financial burden on the common people is reduced. Let us know that petrol is being sold in Jaipur for the last three days at Rs 93.94 per liter and diesel at Rs 86.02 per liter. In Jaipur, the price of a liter of petrol was Rs 92.51 per liter and the price of diesel was Rs 84.62 per liter.
This is how the prices of petrol and diesel are fixed
The price of petrol and diesel you pay at the pump in India depends on international product prices and other market conditions. Petrol and diesel are not covered under the Goods and Services Tax (GST). Other factors in the retail price of petrol and diesel include excise duty and VAT, which is levied by the state government.
Prices change every morning
The price of petrol and diesel changes at 6 am daily. The new rates are applicable from 6 o’clock in the morning. Although many times the rate remains the same the next day. After adding excise duty, dealer commission and other things to the price of petrol and diesel, its price almost doubles.
Check the price of petrol and diesel in your city like this
You can also know the price of petrol and diesel in your city through SMS. For this, you have to make a message from your phone and you get the complete detail on your phone. Write RSP and your city code in your mobile and send it to number 9224992249. Petrol and diesel rates will come to your city immediately on your mobile. The code for each city is different, which you will find on the IOC website. If you want, you can also install the mobile app of IOC.