Six non-BJP ruled states yet to reduce VAT on petrol: Hardeep Singh Puri
Op IndiaOn Thursday, December 15, Petroleum Minister Hardeep Puri said in the Lok Sabha that six non-BJP-ruled states have not reduced the Value Added Tax on petroleum products. pic.twitter.com/eDmfblizuZ — Hardeep Singh Puri December 15, 2022 Puri also asserted that petrol prices in India are lowest in comparison to several other countries despite the upheavals in the international markets. He stated that three public sector oil marketing companies IOCL, BPCL and HPCL have collectively lost Rs 27,276 crore as a result of high crude prices in international markets as prices of petrol and diesel have not been increased since 6 April 2022. While the average price of crude oil in India increased by 102% between November 2020 and November 2022, retail prices of petrol and diesel in India increased by only 18.95% and 26.5%, respectively, Puri detailed. Hardeep Puri also stated that the Central Government reduced excise duty on two occasions, in November 2021 and May 2022, in order to keep fuel prices reasonable and protect Indian consumers from the impact of high international crude oil prices.