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Violations of the order will be subject to penalties and other legal action as provided under the Essential Commodities Act, 1955 and applicable laws
Kerala's Chief Minister questioned whether the state would forego sales tax increases from fuel prices. He referenced past opposition to tax cuts, citing inflation needs and debts.
India will reduce its export duty on petrol, diesel, and aviation fuel from June 1st, with revised rates set fortnightly based on international prices.
Fuel prices rose again, with petrol up ₹2.61 and diesel ₹2.71 per litre, the fourth increase in two weeks. This impacts inflation and transportation costs.
Fuel prices rose by up to 91 paise per litre recently, with petrol and diesel increasing by almost ₹5 in under ten days.
In Kerala, prices were hiked by ₹86 and ₹83 for petrol and diesel, respectively.
Petrol and diesel prices rose by ₹3 per litre due to global crude oil increases. This is the first hike in nearly four years, despite covering only a fraction of input cost rises.
Oil industry officials state there is no shortage of LPG, petrol, or diesel in Kerala, with supplies continuing smoothly.
India imports 88 per cent of its crude oil needs and roughly half of its natural gas requirement.
Excise duty reduction on petrol and diesel aims to support oil marketing companies amidst volatile global crude markets.
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