Petrol, Diesel Prices to go Down Further in Rajasthan After 2% VAT Cut | Check Details Here

In Jaipur, the petrol is being sold at Rs 93.94 per litre and diesel at Rs 86.02 per litre for the last three days.

New Delhi: People in Rajasthan will now get petrol and diesel at cheaper price as the state government has reduced the Value-added Tax (VAT) on the fuel by 2% each. After the latest move, now 36% VAT will be applicable on petrol and 26% on diesel.

Notably, the prices of petrol and diesel are determined by crude oil and forex rates. However, the retail rates vary from state to state due to local sales tax or VAT.

Giving this announcement, Rajasthan Chief Minister Ashok Gehlot urged the Central government for a reduction in VAT.

“The State govt has reduced VAT by 2% both on petrol & diesel to provide relief to people in #Rajasthan. We expect the central govt would announce a reduction too so that financial burden on common people is reduced,” Gehlot tweeted.

In Jaipur, the petrol is being sold at Rs 93.94 per litre and diesel at Rs 86.02 per litre for the last three days. However, petrol on Friday retailed at Rs 92.51 and diesel at Rs 84.62 per litre in Jaipur.

You must remember that the petrol and diesel do not come under the purview of goods and services tax (GST). Other factors in the retail price of petrol and diesel include excise duty and VAT, which is levied by the state government.

At present, the country is 83% dependent on imports for meeting its oil needs. Doping petrol with ethanol will cut down the import requirement.