Petrol price hiked by Rs 2/ltr, diesel by Rs 1/ltr in Uttar Pradesh, effective from midnight
The Uttar Pradesh government has hiked the petrol and diesel prices on Wednesday, amid coronavirus crises. The petrol prices have been hiked by Rs 2 per litre and diesel by Rs 1 per litre. The revised fuel prices will be applicable from today midnight.
The VAT has been increased by Rs 2 per litre on petrol and Rs 1 per litre on diesel said UP Finance Minister Suresh Khanna.
Meanwhile, Yogi government has also hiked liquor prices between Rs 5 to Rs 400 in the state.
The decision comes a day after the Centre hiked excise duty by a record Rs 10 per litre on petrol and Rs 13 per litre on diesel in an attempt to shore up revenues as demand remains subdued due to the lockdown. Centre also asserted that the retail prices of petrol and diesel will not be impacted by the tax changes as state-owned oil firms will adjust them against the recent fall in oil prices.
Finance Ministry officials said the hike in excise duty, which comes into effect from today, will not result in an increase in retail prices for the consumers.
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