Petrol, diesel price set to go up in Karnataka
Bengaluru, Jan 4: The fuel prices in Karnataka are likely to increase with the state government hiking the tax rates on Petrol and diesel.
The tax rate on petrol has been hiked from 28.75% to 32%. The tax rate on diesel has been increased from 17.73% to 21%.
The price of petrol and diesel in Karnataka as of today (January 4) is Rs 70.84/litre and Rs 64.66/ litre, respectively.
The petrol and diesel prices have been falling for the past 10 weeks. Karnataka government's decision to hike taxes is aimed at increasing its revenue from fuel taxes.
In September 2018, Karnataka joined a handful of other states in lowering sales tax on petrol and diesel. Chief minister HD Kumaraswamy had then announced his government's decision to cut state taxes on petrol and diesel by Rs 2 per litre, effectively reversing the additional levies he had introduced for his farm loan waiver scheme.