<p>Assam government has hiked retail fuel prices fearing that the monthly royalty it gets from two major oil PSUs for its crude supply could see 80% dip in view of the global crude oil price crash triggered by COVID-19.</p>.<p>The state finance department on Tuesday issued a notification hiking the retail petrol price by Rs. 6 per litre and diesel by Rs. 5 per litre as the state's most revenue-generating sources dried up due to the lockdown claimed to check the spread of Coronavirus.</p>.<p><a href="https://www.deccanherald.com/national/coronavirus-news-live-updates-indias-tally-spikes-over-11200-death-toll-rises-to-394-817763.html"><strong>For latest updates on coronavirus outbreak, click here</strong></a></p>.<p>"We will suffer hugely due to the crash in global crude oil price. This may significantly reduce the amount of royalty we get every month from Oil India Limited and ONGC Limited for the crude oil produced in our state. So we have decided to increase the fuel price so that we can at least make up Rs. 50 crore in the next 30 days. This is a temporary decision and will be rolled back as soon as the COVID-19 situation improves," the state finance ministe Himanta Biswa Sarma told reporters here on Wednesday.</p>.<p><a href="https://www.deccanherald.com/national/coronavirus-state-wise-india-update-total-number-of-confirmed-cases-deaths-on-april-22-828354.html"><strong>Coronavirus India update: State-wise total number of confirmed cases, deaths on April 22</strong></a></p>.<p>Sarma said Assam gets an estimated Rs. 166 crore every month as royalty from OIL and ONGC but this could come down to less than Rs. 50 crore now.</p>.<p>The notification to hike the retail fuel price was issued by principal secretary (finance), Samir Kumar Sinha under the provision of The Assam Value Added Tax Act, 2003. It came into effect from 12:00 am on April 22.</p>
<p>Assam government has hiked retail fuel prices fearing that the monthly royalty it gets from two major oil PSUs for its crude supply could see 80% dip in view of the global crude oil price crash triggered by COVID-19.</p>.<p>The state finance department on Tuesday issued a notification hiking the retail petrol price by Rs. 6 per litre and diesel by Rs. 5 per litre as the state's most revenue-generating sources dried up due to the lockdown claimed to check the spread of Coronavirus.</p>.<p><a href="https://www.deccanherald.com/national/coronavirus-news-live-updates-indias-tally-spikes-over-11200-death-toll-rises-to-394-817763.html"><strong>For latest updates on coronavirus outbreak, click here</strong></a></p>.<p>"We will suffer hugely due to the crash in global crude oil price. This may significantly reduce the amount of royalty we get every month from Oil India Limited and ONGC Limited for the crude oil produced in our state. So we have decided to increase the fuel price so that we can at least make up Rs. 50 crore in the next 30 days. This is a temporary decision and will be rolled back as soon as the COVID-19 situation improves," the state finance ministe Himanta Biswa Sarma told reporters here on Wednesday.</p>.<p><a href="https://www.deccanherald.com/national/coronavirus-state-wise-india-update-total-number-of-confirmed-cases-deaths-on-april-22-828354.html"><strong>Coronavirus India update: State-wise total number of confirmed cases, deaths on April 22</strong></a></p>.<p>Sarma said Assam gets an estimated Rs. 166 crore every month as royalty from OIL and ONGC but this could come down to less than Rs. 50 crore now.</p>.<p>The notification to hike the retail fuel price was issued by principal secretary (finance), Samir Kumar Sinha under the provision of The Assam Value Added Tax Act, 2003. It came into effect from 12:00 am on April 22.</p>
