Diesel is dearer by 45 paisa/l

GK NEWS NETWORK

Srinagar, Mar 22: The Centre government today hiked diesel prices by 45 paisa per litre. The hike in Jammu and Kashmir translates into 51 paisa after incorporation of VAT and other taxes.
The diesel will be sold at the price of Rs 51.52 against the earlier rate of Rs 51.01 per litre in J&K.
Earlier the diesel price in the state was at Rs 50.01, Rs 50.01 and Rs 50.02 per litre for BPCL, HPCL and IOCL respectively.
Pertinently the state government levies 12 per cent tax on diesel and 20 per cent on petrol and cess of Rs 3 per litre.
Experts believe the hike in diesel prices will further stoke inflation in the state as the rise in the diesel prices is subsequently followed by the increase in the prices of food items and transport charges.
The fuel price rise has become a cause of worry for the people, especially professionals who are in the field jobs.
For diesel, it is the third straight increase in two months, the last raise was by 45 paisa a litre.
The increase indicates the UPA government's resolve to reform fuel pricing with a view to pruning a ballooning fuel subsidy bill, estimated at Rs 163,000 crore this fiscal for diesel, cooking gas and kerosene.

Lastupdate on : Fri, 22 Mar 2013 21:30:00 Makkah time
Lastupdate on : Fri, 22 Mar 2013 18:30:00 GMT
Lastupdate on : Sat, 23 Mar 2013 00:00:00 IST



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