Panaji: The price of gasoline, which staggered around Rs 99 liters for more than three months, violated a century sign on Saturday after the price of fuel increased again, this time with 25 Paise, to take a lifetime price in Goa.
Diesel prices followed behind, Barely Rs 4 of the century as the center and the country continued to sweep income.
Oil marketing companies increase gasoline and diesel prices by 25 Paise and 30 Paise each as international crude oil prices strengthened.
Gasoline in the capital city touched the 100.05-a-liter Rs, the first time fuel crossed a century sign in the city, even though in the interior, the price of gasoline was teasing Mark Century in July.
“The government needs money.
It must increase the coffers,” said the fuel pump dealer in the city.
Fuel retailers show that the main reason for fuel prices reach a triple digit mark is state tax and the center imposed on fuel.
According to Petroleum retailers, gasoline prices, not including customs and value added tax, stands at Rs 39.3.
Customs revised sharply upwards in 2020 when crude oil prices fell due to a decrease in demand due to a pandemic.
Likewise, in February, the Goa Government led by BJP climbed VAT on gasoline to 27% and on Diesel to 23%.
At that time, the price of gasoline in North Goa was around Rs 83.1 per liter while diesel around Rs 80.1 per liter.
While residents and riders feel angry about the great tax they need to pay fuel, the government believes that the income is very important for growth, especially during a pandemic when the source of income has dried up.
Goa won Rs 682 Crore from VAT on fuel at 2020-21.
Since Pramod Sawant was sworn in as Minister of Chief in March 2019, VAT had increased on four occasions, the first on June 14, when VAT on gasoline was cloved from 15% to 20% and VAT on diesel increased from 15% to 18%.
The contribution of excise tasks imposed on fuel contributed to RS 3.71 Lakh Crore to Figurer Central in 2020-21, the highest in the past seven years.
Speaking early to Toi, President of the Goa Petrol Dealer Association (GPDA), Paresh Joshi, said that since 80% of Indian fuel requirements outsourcing, the price of Indian fuel was at the mercy of international crude oil trends and the power of the rupee.
Indian crude imported baskets have touched $ 78 per barrel in the past few days, encouraging india-owned oil marketing companies of India Corp (IOC), Bharat Petroleum Corp.
Ltd (BPCL) and Hindustan Petroleum Corp.
(HPCL) to continue every day of price revisions.
However, to put things in perspective, in April 2014, Indian basket crude reached $ 105.5 per barrel while gasoline reached Rs 72.3 per liter and diesel reached Rs 55.5 per liter.
It has caused a lot, including the opposition, to point to a multi-fold increase in excise tasks in the middle when the price of fuel dropped by 2020.
Customs collection during April-November 2020 was at Rs 1,96,342 Crore, up from RS 1, 32,899 Crore During the same period in 2019, according to data from the General Account Controller (CGA).
The opposition has protested the increase in fuel prices, and has even been protested throughout the country.