CHANDIGARH: The Punjab Government on Sunday announced an increase in petrol price by 92 paisa per litre and diesel price by 88 paisa for retail consumers, as part of their additional resource mobilisation drive. A notification in this regard has been issued by the state Excise and Taxation Department.
This is the second time during this year that the prices have been increased. With today’s hike in prices, the state hopes to generate an additional Rs 600 crore per annum as revenue.
Official sources in the Finance Department told reporters that even with today’s increase in prices, the price of diesel in Punjab would be cheaper than its price in neighbouring Haryana. The price of both diesel and petrol would be cheaper in Punjab than their prices in neighbouring Rajasthan.
It may be mentioned that though the Aam Aadmi Party Government, like their predecessors, have brought in two budgets, where no new taxes have been imposed. As the spending on the committed liabilities increases, as do the subsidies and social security pensions, the government has had no other option but to increase the price of petrol and diesel.