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The Karnataka government has increased petrol-diesel fuel prices by 2 per cent; effective from January 1, 2019. "As the fuel prices declined after fall in crude oil rates in the overseas market since November, the state tax has been revised 2 per cent to 32 per cent on petrol and to 21 per cent on diesel since January 1, 2019," said an official statement from the CMO (Chief Minister's Office).
Fuel prices have fluctuated a lot in major areas in the country, with more ups rather than downs. Fingers are pointed onto many in the blame game, and fuel prices have hit many record-highs in some areas. In addition to this, the gap between petrol and diesel prices are narrowing at an alarming rate — check the petrol price in your city here!
Coming back to the petrol-diesel prices in Karnataka, the state had previously reduced the fuel taxation on September 17, 2018. Taxes were brought down from 32 per cent to 28.75 per cent for petrol, while diesel fuel received a cut from 21 per cent to 17.73.
"The Union government also reduced on October 5 central excise duty on petrol and diesel by Rs 1.5 per litre and directed the state-run oil marketing firms to cut petrol and diesel by Re 1 per litre for sparing the public from higher cost," the official statement further pointed.
Manufacturers are trying their best to make their new products as fuel efficient as possible, without compromising too much on performance. With BS-VI (BS6) cars entering the market in the not-too-distant future, the price difference between a petrol-powered car and its diesel alternative could rise to almost Rs 2.5 lakh — know more about this here.
Thoughts On The Petrol-Diesel Price Hike In Karnataka
The rise in petrol and diesel prices in Karnataka is a bit worrying for those living in the state's major cities; especially Bangalore. Fuel prices have always been relatively high in the city, and for the same reason, there is a recent increased demand for electric and hybrid vehicles.