Fuel Price Increase, in Karnataka; How Much Does Petrol and Diesel Cost in Your City?
On Sunday, June 16, new fuel and diesel rates were released in response to a tax increase by the state government of Karnataka. The Karnataka Finance Department claims that the tax increase is intended to increase state revenue.
Petrol Price: ₹102.84 per litre (up from ₹99.84)
Diesel Price: ₹88.95 per litre (up from ₹85.93)
The gasoline sales tax was increased by the state government from 25.92% to 29.84%. From 14.3% to 18.4% on diesel. Prices all around the state have been directly impacted by this large hike in the sales tax.
Fuel price increases are predicted to have an impact on a number of industries, including transportation and the delivery of commodities, which could raise consumer expenses. An increase in inflation and the cost of living in Karnataka could result from the spike in fuel prices.
Chief Minister Siddaramaiah of Karnataka provided justification for the fuel price increase by pointing out that despite the jump, fuel taxes in Karnataka are still cheaper than in South Indian states and states of comparable size, such as Maharashtra. He emphasized that, when compared to nearby states, the reduced rates are still fair.
Here’s a look at how much petrol and diesel cost in various cities across India:
Delhi: Petrol - ₹94.72/litre, Diesel - ₹87.62/litre
Mumbai: Petrol - ₹104.21/litre, Diesel - ₹92.15/litre
Chennai: Petrol - ₹100.75/litre, Diesel - ₹92.34/litre
Kolkata: Petrol - ₹103.94/litre, Diesel - ₹90.76/litre
Trivandrum: Petrol - ₹107.62/litre, Diesel - ₹96.49/litre
Noida: Petrol - ₹95.01/litre, Diesel - ₹88.14/litre
Lucknow: Petrol - ₹94.56/litre, Diesel - ₹87.66/litre
Bengaluru: Petrol - ₹102.84/litre, Diesel - ₹88.95/litre
Hyderabad: Petrol - ₹107.41/litre, Diesel - ₹95.65/litre
Jaipur: Petrol - ₹104.88/litre, Diesel - ₹90.36/litre
Bhubaneswar: Petrol - ₹101.06/litre, Diesel - ₹92.64/litre
The gasoline and diesel price freeze was lifted by the central government on March 15, 2024, which concluded a two-year period of the freeze.
This change was done in 2024 prior to the Lok Sabha elections.
Three state-owned oil marketing firms (OMCs) are in charge of modifying the prices of gasoline and diesel while accounting for changes in the price of crude oil and the rupee-dollar exchange rate. The OMCs for this position are Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL), and Hindustan Petroleum Corp Ltd (HPCL).
The cost of gasoline and diesel has increased as a result of the tax-related increase in fuel prices in Karnataka. Chief Minister Siddaramaiah highlights that the new tariffs are still competitive when compared to neighboring states, despite the price increase. It is expected that this change will have an effect on some industries and the state's total cost of living.
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