The Karnataka government has announced an immediate hike in the prices of petrol and diesel starting from Saturday. This increase follows an official notification from the state government indicating a revision in the sales tax imposed on petroleum products.
As per the notification, the price of petrol in Bengaluru has risen by Rs 3 per litre, reaching Rs 102.84 from the previous rate of Rs 99.84. Similarly, the price of diesel has gone up by Rs 3.02 per litre, increasing from Rs 85.93 to Rs 88.95.
The Petroleum Dealers Association attributes this price hike to the state government’s decision to raise the sales tax on petrol from 25.92% to 29.84% and on diesel from 14.3% to 18.4%.
This significant tax increase directly impacts the retail prices of petrol and diesel statewide. The Finance Department of Karnataka aims to boost state revenue with this move. However, it is expected to have broader implications across sectors such as transportation and distribution, potentially leading to higher costs for consumers. The sudden implementation of these revised prices has taken many residents and businesses by surprise, raising concerns about its financial impact.
