Petrol and diesel price in Uttar Pradesh will soar from midnight on Monday. The development comes since the government has increased the Value Added Tax (VAT) on petrol and diesel. The petrol price in Uttar Pradesh will soar by 2 Rs 4 paise, while the price of diesel will be increased by 1 Rupee 73 paise.
VAT of 16 Rs 74 paise will be levied on petrol. Earlier, a VAT of 14 Rs 70 paise was effective on petrol.
Meanwhile, on diesel, VAT of 9 Rs 41 paise will be levied. Earlier, a VAT of 7 Rs 68 paise was effective on diesel.
The retail prices of petrol were lowered by 7 paise for the second successive day across four metro cities on Monday (August 19). Diesel prices, on the other hand, were reduced by 8-9 paise.
Petrol prices were cut in New Delhi by 7 paise to Rs 71.84 a litre on Monday as against Rs 71.91 on Sunday. Diesel in the national capital became cheaper by 8 paise to Rs 65.18 a litre as compared with Rs 65.26 yesterday’s price.
On Sunday, petrol became 8-9 paise cheaper while diesel prices went down by 12-13 paise across the country.
Earlier in July, the petrol and diesel prices in Delhi surged after the government had announced a rise in fuel taxes in the 2019 budget.
A litre of petrol that cost Rs 70.51 in Delhi, was up by Rs 2.45 at Rs 72.96 per litre. Diesel in Delhi, which was previously priced at Rs 64.33 a litre, was hiked by Rs 2.36 to Rs 66.69 per litre.
Meanwhile, in Mumbai, petrol now costs Rs 78.57 per litre, up by Rs 2.42. Diesel price saw an increase of Rs 2.5, up at Rs 69.90 per litre from the previous price of Rs 67.40 per litre.
On Monday, in the international oil market, crude prices went up after a weekend attack on a Saudi oil facility by Yemeni protestors and as traders expected that Washington-Beijing trade tensions could ease.
International Brent crude oil futures were trading at USD 59.28 per barrel, up 64 cents, or 1.1 per cent, from their last close.
Video: Fuel rates increase in Uttar Pradesh