{"id":28982,"date":"2018-10-24T16:02:47","date_gmt":"2018-10-24T10:32:47","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=28982"},"modified":"2018-10-24T16:02:47","modified_gmt":"2018-10-24T10:32:47","slug":"fuel-fractions-on-petrol-diesel-prices","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/fuel-fractions-on-petrol-diesel-prices\/","title":{"rendered":"Fuel fractions: on petrol, diesel prices"},"content":{"rendered":"

Fuel fractions: on petrol, diesel prices<\/strong><\/p>\n

News:<\/strong><\/p>\n

    \n
  1. Prices of petrol and diesel recently get reduced by Rs one paisa per litre after reduction in oil price in international market.<\/li>\n<\/ol>\n

    Important facts:<\/strong><\/p>\n

    2. It is advised that both central and state government should cut the tax on petrol and diesel to give benefits to consumers.<\/p>\n

    3. Central government raises excise duties heavily in recent time. Leverage is provided by reduction in oil price in international market.<\/p>\n

    4. States government impose ad valor-em duties on fuel products. Average tax is 26% while Maharashtra impose 39.27% tax.<\/p>\n

    5. States also impose value-added tax on the fuel price which is inclusive of central excise duties. This leads to double taxation and further increase in price.<\/p>\n

    6. An SBI research report says prices could go down by Rs3.75 and Rs5.75 a litre for diesel and petrol respectively, if only double taxation is controlled.<\/p>\n

    7. Rising crude prices, inflation and the trade deficit puts pressure on the rupee and GDP growth.<\/p>\n

    8. Because of these issues, global rating agencies are lowering India\u2019s growth expectation for the financial year 2018-19.<\/p>\n

    9. Kerala has shown the way by reducing sales tax on fuel by Rs 1 per litre.<\/p>\n

    10. The high taxes on fuel need to be cut when price rise again.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Fuel fractions: on petrol, diesel prices News: Prices of petrol and diesel recently get reduced by Rs one paisa per litre after reduction in oil price in international market. Important facts: 2. It is advised that both central and state government should cut the tax on petrol and diesel to give benefits to consumers. 3.… Continue reading Fuel fractions: on petrol, diesel prices<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-28982","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704888810},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/28982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=28982"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/28982\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=28982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=28982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=28982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}