Petrol prices even higher than before after VAT increase

Higher taxes are being levied on petrol and diesel even though the prices are already high.  The Value Added Tax (VAT) on petrol is now 27% while on diesel it is 23%. On February 3, at Panaji petrol pumps, the cost of petrol was Rs 83.13 per litre and diesel was priced at Rs 80.10 per litre. After the tax hike the petrol price has increased by Rs 1.30 per litre and diesel price by Rs 0.60 per litre. In the current financial year, this is the second time that the VAT on fuel has been hiked. In 2021, the cost of petrol and diesel has increased by 5.3% and 4.7% respectively. The further the distance from the oil company’s tanks, the more costly it is.  According to owners of petrol pumps and oil marketing companies the consumption of fuel has come back to the normal level whereas during the lockdown in April 2020 it had fallen by 80%.

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Author: Planet Goa Team
For us at Planet-Goa, our team is driven by that feeling of exhilaration that one gets when discovering that something ‘unique’ and ‘new’ about Goa for our ever-so-discerning readers.

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