ibusinesslines.com November 14, 2018

Andhra Pradesh Government Announces Reduction in Petrol, Diesel Prices by Rs 2

10 September 2018, 06:42 | Kelvin Horton

Andhra Pradesh Government Announces Reduction in Petrol, Diesel Prices by Rs 2

Andhra Pradesh Government Announces Reduction in Petrol, Diesel Prices by Rs 2

The Chief Minister's announcement came as 22 opposition parties are holding a nationwide strike called by the Congress over rising fuel prices and the falling rupee.

Apart from a 25 per cent Value Added Tax (VAT) on petrol (and 21 per cent on diesel), the Maharashtra government has also introduced Rs 9 and Rs 1 as various cess on petrol and diesel respectively.

Since the start of the year, the petrol price in Delhi has risen by Rs 10.41 from Rs 69.97 a litre and the diesel price has gone up by Rs 12.81 from Rs 59.70 a litre on January 1. According to petroleum dealers in the State, compared to Friday's price, petrol on Saturday cost 41 paise more while diesel price rose 48 paise a litre. The new petrol and diesel prices will be applicable from Tuesday morning (September 11).

Petrol and diesel prices continue to rise for the fifth consecutive day in the nation capital. Two of them, rising price of crude oil and depreciation in the value of the rupee against the USA dollar, are beyond the control of government.

The fuel prices are likely to go up further as the rupee hit yet another all-time low of ₹72.

As per the country's pricing mechanism, the domestic fuel prices are dependent upon the global fuel prices on a 15-day average and the impact of the rupee-US dollar fluctuations.

However, the central government is yet to announce any cut on the excise duty levied on petrol and diesel. "Moreover tax structure is such that VAT on fuel rises with the rise in the price of fuel".

If the reports coming from the power corridors of Amaravati, Telugu Desam Party president and Andhra Pradesh chief minister N Chandrababu Naidu is learnt to have made a decision to give relief to the citizens by reducing the Value Added Tax (VAT) on diesel and petrol in the State.

Other News

Trending Now

Security breach at Lyon Airport, a vehicle chase on runway, flights grounded
Authorities chase a person after they drove a auto across a field onto a runway at a major Lyon airport on Monday. Police pursued the man which ended in his arrest.

England 1-2 Spain: Hosts lose Nations League opener at Wembley
Commenting on the stoppage-time drama, the 48-year-old said: "I couldn't see, it was hard , David de Gea told me he was fouled". The last two World Cups have not helped at all and neither did Euro 2016 as Spain were disappointing.

Khalil Mack, Roquan Smith will be ‘limited’ for Bears vs. Packers
The Packers confirmed at halftime that Rodgers has a knee injury and listed him a questionable to return for the second half. A 10-play, 86 yard drive by the Bears ends with quarterback Mitch Trubisky running it into the end zone.

Packers’ Aaron Rodgers injured, leaves games on cart
Aaron Rodgers and the Packers will look to improve their record to 2-0 next week against the Minnesota Vikings at home. Until then, relive tonight's madness with the top reactions of the night by way of your trusty Twitter community.

Yet again, Tesla shares burned by barrage of awkward headlines
Morton's brief tenure with the company coincided with the aborted go-private push. Elon Musk smoked cannabis on a YouTube show "I'm not a regular smoker of weed".

Boris Johnson and his wife ‘to divorce’
Mr Johnson admitted to having an affair with Petronella Wyatt in 2008, and to fathering a child with Helen Macintyre in 2012. However, according to the eldest daughter Lara Johnson, a third chance the former head of the foreign office will not give.

Hurricane Florence is rapidly strengthening
It had maximum winds of 85mph with higher gusts, with tropical storm force winds extending up to 125 miles from the storms centre. The hurricane center predicted between nine and 13 named storms this season, four to seven of which would be hurricanes.