Union Budget 2026: Petrol, Diesel Under GST? Prices May Drop Significantly
Budget
M
Moneycontrol•30-01-2026, 19:58
Union Budget 2026: Petrol, Diesel Under GST? Prices May Drop Significantly
- •Finance Minister Nirmala Sitharaman may announce bringing petrol and diesel under GST in Union Budget 2026 on February 1.
- •Currently, petrol and diesel are subject to various taxes like excise duty and VAT, leading to price differences across states.
- •Bringing fuel under GST would abolish VAT, potentially unifying prices nationwide and reducing retail costs.
- •Experts anticipate significant relief for common people and reduced logistics costs, impacting prices of other goods.
- •The decision requires consensus from all states, as some fear revenue loss from the move.
Why It Matters: Union Budget 2026 may bring petrol and diesel under GST, leading to lower, uniform prices nationwide.
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