Punjab Government on Monday increased the Value Added Tax on retail fuels effective from midnight. Meanwhile, the petrol price has been increased by Rs 1- Rs 1.20 per litre and Rs 0.53 per litre in diesel price.
Punjab Government, in a notification issued on Monday, increased Value Added Tax on petrol from 23.3 percent to 26.43 percent and on diesel from 15.15 percent to 15.98 percent.
The development aims to hike the falling revenue collections in Punjab in the wake of coronavirus induced lockdown.
In February last year, the Punjab government had reduced the price of petrol by Rs 5 and that of diesel by Rs 1 per litre.
Fuel price hiked for 10th straight day
The prices of petrol and diesel have increased for the 10th successive day on Tuesday. The petrol increased by 47 paise per litre and diesel gone up by 57 paise per litre in the national capital.
In Delhi, the price of petrol has been increased to Rs 76.73 per litre from Rs 76.26, while diesel spiked to Rs 75.19 per litre from Rs 74.62. The prices of petrol and diesel are revised on a daily basis across the country.