New Delhi: Reacting to the soaring fuel prices, Union minister Dharmendra Pradhan on Monday said that he is advocating for bringing petroleum products under Goods and Services Tax (GST) and wants GST Council to soon take a decision regarding this.
“We are sensitive regarding petrol and diesel price hike. We have advocated for bringing petroleum products under Goods and Services Tax (GST). We want GST Council to soon take a decision regarding this. I am hopeful that petroleum products will also come under GST soon,” he said.
Prices of petrol and diesel depend on international factors and fuel prices soar in the country when oil prices become high in the international market, he added.
Petrol price on Monday again hit a four-year high of Rs 73.83 a litre while diesel rates touched an all-time high of Rs 64.69 in the national capital.
The hike in fuel prices has again stoked fresh demands for the government to cut excise tax rates.
Pradhan, however, expressed hope that petroleum products will soon be brought under the ambit of GST.
State-owned oil firms, which have been since June last year revising auto fuel prices daily, today raised petrol prices by 10 paise and diesel rates by 11 paise per litre each in Delhi, as per an Indian Oil price notification.
Petrol in the national capital now costs Rs 73.83 a litre, the highest since September 14, 2014 when rates had hit Rs 76.06. Diesel price at Rs 64.69 is the highest ever, with previous high of Rs 64.22 being on February 7, 2018.
On Sunday Petrol in the national capital was at Rs 73.73 while diesel prices were at Rs 64.58.