MARGAO: With
petrol touching Rs 70.84 per litre in the state on Tuesday, sources said fuel prices have been witnessing a hike almost on a daily basis ever since the conclusion of the
Karnataka assembly polls last week.
Although the price of petrol in Goa has shot up by over Rs 10 per litre over the last 18 months, it is still one of the lowest in the country as VAT is low in the state.
In June last year, Indian Oil Corporation, Bharat Petroleum Corporation and
Hindustan Petroleum Corporation had scrapped the 15-year-old practice of
fortnightly revisions of fuel prices. Since then, petrol and diesel prices are revised daily based on the global crude oil rates and currency conversion against the US dollar.
Representative Image