[1]Consumers in Karnataka received a Vara Mahalakshmi gift when on Friday, a reduction in LPG, petrol and diesel prices came into effect. Karnataka is one of the few state where prices have dropped.
Now, petrol is cheaper by Rs1.40 and diesel, by 85 paise. Petrol price in Bengaluru is Rs75.92 and diesel Rs 44.98 per litre.
The price of a 14.2 kg domestic cylinder has dropped by Rs6.55. A 14.2 kg bottle of LPG will now be available at Rs408 in Karnataka. The price of auto LPG has been reduced by 85 paise per litre in the state. Petroleum dealers expect another marginal drop in auto LPG prices soon.
The reduction in prices came after oil companies recalibrated rates to reflect changes in local levies on Wednesday. The change came into effect three days after a 91 paise hike in petrol price came into effect on Tuesday.
“In the latest change, state owned oil companies restructured state levies on petroleum products. Petrol and diesel prices were hiked in seven states while 11 states saw a reduction. Similarly, LPG prices dropped in 12 state. The prices of diesel and LPG remain unchanged in Delhi,” an IOCL official said from Chennai.
As Karnataka has had high local levies like entry tax on crude oil, surcharge on sales tax and purchase tax on intercompany sale charged by state government, restructuring the rates resulted in a drop in prices and a benefit to consumers in the state, the official explained.
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