Inclusion of fuel under GST could prove beneficial
The incessant fuel hike that has led to petrol and diesel prices crossing ₹100 per litre mark in Rajasthan and Madhya Pradesh is expected to impact the fuel consumption expenditure of the common man and his budget due to cost escalation in essential commodities. Mint explores.
What factors influence price tweaks in fuel?
The factors influencing fuel prices in India are international crude oil price, import duty, refinery cost, freight cost, central excise, state value added tax, margin of marketing companies and retail fuel outlets. Output cuts by oil producing nations across the world along with high taxes have been the cause of skyrocketing fuel prices.
