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As Fuel Price Continues To Climb Karnataka Cuts Of Rs 2

TODAY the price of petrol rose by 15 paise while diesel rose by 6 paise. And amid this fuel price rise, Kumaraswamy’s government has brought relief to the people.

On Monday, in Karnataka, the fuel prices were cut off by Rs.2 per litre hoping that the reduction will bring relief to the people.

“Everyday fuel prices are increasing, people of Karnataka felt that the state government can reduce the prices of fuel by reducing the taxes, I want to announce from Kalburgi that the coalition government has decided to cut down the taxes for petrol and diesel minimum by Rs.2. I hope this step taken by our coalition government will give some relief to the people of Karnataka,” Kumarasamy said.

This comes at a time when the Center is under scrutiny over the rising fuel price

Karnataka is the 4th state to cut off the price of fuel.

In Rajasthan, the Vasundhara Raje government cut the fuel price by Rs. 2.

Andhra Pradesh Chief Minister Chandrababu Naidu too brought down the prices by Rs. 2 per litre and cost the exchequer around Rs. 1,120 crores.

West Bengal too had brought down the price on the fuel.

Since oil prices have started rising, following US sanctions on Iraq and the slide of the rupee against the dollar, there have been calls to reduce tax.

Oil prices in the country are tied to the cost of crude oil in the international market. But over it, both Centre and the states levy taxes. A reduction in retail prices can happen only if excise duty is reduced — in which case the Centre and state governments bear the loss, or the oil firms bear it directly.

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