Andhra Pradesh Cuts Petrol, Diesel Prices By Rs 2 Per Litre

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A deduction in petrol and diesel prices in Andhra Pradesh has come a day after Vasundhara Raje-led Rajasthan government announced a 4 per cent reduction in Value-added tax (VAT) on the fuel. One factor, the high level of taxes on the retail price, is a fiscal choice.

Naidu accused the NDA government at the Centre of misleading the people by attributing the steep hike in the prices of petrol and diesel to growing crude oil prices globally.

Similarly in Delhi, at Rs 80.73 per litre on Monday, taxes make up 43.18 percent of the price.

Meanwhile, normal life was hit in some states on Monday with offices and educational institutes closed and vehicles off the roads during an opposition sponsored "Bharat Bandh" against the rising fuel prices.

The all-India anti-fuel price hike shutdown got under way in different parts of Maharashtra with all parties, barring the ruling Bharatiya Janata Party and the Shiv Sena, joining in wholeheartedly. In Mumbai, a litre of petrol costs Rs 87.77 and diesel comes for Rs 76.98, the notification said.

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Oil prices in the country are tied to the cost of crude oil in global market.

This is the biggest increase in rates in any fortnight since the daily price revision was introduced in mid-June past year.

"Common man is suffering a lot due to the increasing prices of fuel".

In Kolkata, the price of petrol has been increased to ₹83.27 per litre while the diesel price has gone up to ₹75.36 per litre.

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". This led to its excise collections from petro goods more than doubling in the last four years - from Rs 99,184 crore in 2014-15 to Rs 2,29,019 crore in 2017-18.

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