How will GST effect petrol prices? Petroleum products including petrol, diesel, natural gas, kerosene, crude oil, fuel, etc., have been kept outside of GST cover, as of now. In the present scenario, three different taxes are being levied on the petrol prices – VAT, Excise duty, and the commission of dealers.
This is in addition to the actual price of the petrol, and the consumer is the one to pay all these taxes along with the cost of petrol. However, it is being hoped that the petroleum products may also be soon included under the GST which may reduce their prices effectively.