Oil companies tweak fuel prices around surcharge

Fuel prices across the board have been revised after state-owned oil companies re-calibrated the surcharge paid towards state levies such as entry tax on crude and purchase tax. The new prices of auto and cooking fuels are effective from Wednesday.

Fuel prices across the board have been revised after state-owned oil companies re-calibrated the surcharge paid towards state levies such as entry tax on crude and purchase tax. The new prices of auto and cooking fuels are effective from Wednesday.

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As a result of this re-jig, petrol and diesel prices have been hiked in seven states, and that of cooking gas in six states. Kerosene prices have been increased in eight states.

These changes are over and above the 70 paise per litre hike in petrol prices that was effected on July 24.

The diesel price rise is in the range of 72 paise to Rs. 1.95 per litre. Petrol prices have risen by 72 paise to Rs. 2.52 per litre, and kerosene prices from 32 paise to 80 paise per litre. LPG cylinders have turned costlier by Rs. 8.72 to Rs. 19.43 per cylinder.

The rejig also saw petrol and diesel prices being reduced in 11 states including Karnataka, Goa, Gujarat and Odisha. Besides, LPG prices have come down in 12 states including Gujarat, Tamil Nadu, West Bengal and Odisha.

These changes follows the government’s decision to revise the structure of ‘state-specific costs’ to cover irrecoverable taxes.