The hike is likely to earn Rs 250 to 300 crore to the state exchequer
The collection on account of cess on diesel and petrol yielded the government Rs 1.13 trillion in 2018-19 and is estimated to bring in Rs 1.27 trillion in 2019-20
On January 7, the petrol price was hiked by 21 paise and diesel by 8 paise. Rates were unchanged on January 8 and 9
The increase in the state tax, however, drew flak from the opposition BJP, whose legislator Arvind Limbavalli from the city's northeast Mahadevapura assembly segment termed it daylight robbery
In all, petrol price has fallen by Rs 13.79 per litre since October 18, more than negating all of the hike that was witnessed in the two-month period beginning mid-August
The SAD's demand comes days after the Centre announced a Rs 2.50 a litre cut in the petrol and diesel prices
The recent surge in transportation fuel prices comes amidst rising global crude oil prices and other factors
Fuel prices have been witnessing a steep rise since the past few weeks
In tandem with petrol, cost of diesel also rose to hit new highs today