Chennai: After a brief pause on the rising trend, the petrol and diesel prices today touched record high again in the country.
The price of petrol increased by 25 paise, and diesel rates jumped up by 35 paise. This increased the retail rate of the fossil fuels which differ from State to State depending on the incidence of local sales tax or VAT and freight charges.
Meanwhile, the Nagaland government has cut down taxes on petrol, diesel and other motor spirits.
The notification from the finance department stated that the rate of tax on petrol and other motor spirits has been reduced from 29.80 per cent to 25 per cent per litre or from Rs 18.26 to Rs 16.04 per litre (whichever is higher).