Panaji: Petrol and diesel prices have gone up by Rs 2.78 and Rs 1.65, respectively in Goa after the state government increased the value added tax (VAT) from Friday midnight.
The finance department issued a notification on Friday increasing VAT on petrol from 15 per cent to 20 per cent and on diesel from 15 per cent to 18 per cent.
With this hike in VAT on fuel, the petrol price will be Rs 66.53 per litre and diesel will cost Rs 64.98 per litre. The new rates are effective from Friday midnight.
An official in the finance department said that with this rise in price, the state government will earn additional revenue of Rs 12.5 crore per month, which will bring additional Rs 150 crore revenue annually to the state treasury.