Centre, state govts should reduce VAT, excise amount for petrol: All India Petroleum Dealers Association

On increased petrol prices, president of All India Petroleum Dealers Association, Ajay Bansal said, "Whenever there is an increase in prices of crude oil, petrol and diesel, government give concession in excise to adjust prices. Both Central and State governments should reduce VAT and excise amount. Currently, 70% of petrol rate is tax. Under one nation one rate, GST should be picked up by both State and Central government. There is around 65-70% tax on petroleum. Even if GST is kept in the highest slab of 28%, there will be huge reduction in petrol price."