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.