Chandigarh: The Punjab Government has increased the VAT on fuel prices which has led to hike in the prices of Petrol and diesel. The Punjab Government has increased the Value Added Tax (VAT) on Petrol by 61 paise and Diesel by 92 paise. The information about the hike in fuel prices was shared by Punjab Finanace Minister Harpal Singh Cheema.
Minister added that with the hike in VAT on fuel prices, The government treasury will be getting Rs 392 crore and Rs 150 crore respectively due to the increased prices of petrol and diesel. Possibly the decision to increase the VAT on fuel prices has been taken to deal with the financial crisis of state.
Harpal Cheema was addressing a press briefing after the cabinet meeting. He also made announcements related to the implementation of the Education Policy and Agricultural Policy.
Petrol and Diesel Rate in Punjab
As of today, The Price of Petrol stands at Rs 96.82 per liter and the price of Diesel is at Rs 87.11 per liter. After the hike, the new prices of Petrol and Diesel are Rs 97.43 and Rs 88.03 respectively. It should be noted that prices of petrol and diesel are subject to change and vary in different cities.