• Petrol-diesel will be cheaper!


• Fuel will come under GST soon


• A big relief for common people

From Union Budget 2026 A common man has high expectations. Finance Minister Nirmala Sitharaman He will present the budget on February 1. It is likely to announce bringing petrol and diesel under Goods and Services Tax (GST). There has been a demand for bringing petrol and diesel under GST for a long time. Bringing petrol and diesel under GST will bring great relief to the common man. Currently, petrol prices range from ₹95 to ₹105 in different cities, while diesel prices range from ₹88 to ₹96.

Many taxes on petrol and diesel

Various taxes are currently levied on petroleum products, including excise duty and VAT. The difference between petrol and diesel prices in different cities is due to VAT. VAT rates vary from state to state. VAT will be abolished after implementation of GST system. However, some goods, including petroleum products, have not yet been brought under GST and are therefore subject to VAT.

Price differences between different cities will be removed

If Finance Minister Nirmala Sitharaman announces to bring petrol and diesel under GST on February 1, the prices may become uniform across the country. The GST system was implemented across the country on July 1, 2017. Initially, petrol and diesel were excluded from its scope. However, later there was a plan to bring them under GST.

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Petrol and diesel will become cheaper under GST.

A special feature of GST is that after its implementation, many other taxes are eliminated. This reduces the prices of products and services. However, the GST slab applicable to petrol and diesel is not clear. Currently, there are three GST slabs: 5%, 18% and 40%.

Currently, petrol and diesel prices consist of four components:

Basic Price: This includes production cost of fuel and transportation cost.

Dealer’s Commission: Dealer’s commission comes second.

Excise Duty: Central government levies excise duty on fuel.

VAT: State governments levy VAT on fuel. VAT rates vary from state to state.

A great relief to the common man

Experts say that VAT and excise duty on petrol and diesel will be removed after the implementation of GST. This will significantly reduce the retail prices of petrol and diesel. This will benefit the common man. Logistics and transportation costs will also come down, which will bring down the prices of many commodities. There has been a demand for bringing petrol and diesel under GST for a long time. However, this requires the consent of all states. Some state governments believe that bringing fuel under GST may affect their revenue.

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