Big Breaking: CTI Proposes 5% VAT Cap to Cut Fuel Prices by ₹15

The Chamber of Trade and Industry (CTI) Chairman Brijesh Goyal has written to Petroleum Minister Hardeep Singh Puri, proposing a uniform 5% VAT on petrol and diesel across all states for the next three months. He claims this could reduce fuel prices by ₹10–₹15 per litre, as fuel is outside GST and state taxes cause major price differences. Meanwhile, the All India Motor Transport Congress has expressed strong concern, stating that the transport sector is suffering from repeated fuel hikes and calling it a “slow poison” for the industry. They argue that instead of frequent small increases, a single large revision would help businesses plan better. Fuel prices have risen for the fourth time in 11 days, with petrol up ₹2.61 and diesel ₹2.71 per litre. Analysts also compared global fuel price trends, noting that while many countries have seen much higher increases over the years, India’s rise is relatively lower at around 7–8%. However, public reactions in cities like Lucknow reflect growing concern over rising daily expenses and uncertainty about future hikes.

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