Petrol, Diesel Prices Across Country Reduced Significantly After Cut In Excise Duty
Mumbai: Fuel prices were cut across the country on Thursday after the Center cut excise duty to reduce its retail rates on the eve of Diwali. Petrol and diesel prices in Delhi fell by Rs 6.07 and Rs 11.75 to Rs 103.97 and Rs 86.67, respectively.
Petrol and diesel prices in the national capital touched an all-time high of Rs 110.04 per liter and Rs 98.42 per litre on Tuesday after rising for seven consecutive days.
Rates remained unchanged on Wednesday as well. Petrol and diesel prices in Mumbai were reduced by Rs 5.87 and Rs 12.48 respectively and are now priced at Rs 109.98 and Rs 94.14 per liter respectively. Petrol price in Kolkata has come down from Rs 110 per liter and is currently being sold at Rs 104.67 per liter; While the price of diesel was Rs 89.79 per liter.
The price of petrol and diesel in Chennai is Rs 101.40 and Rs 91.43 per liter respectively. The central government on Wednesday cut excise duty on petrol and diesel by Rs 5 and Rs 10, respectively, with effect from today.
The Bharatiya Janata Party-led Assam announced a reduction in Value Added Tax (VAT) on petrol and diesel by Rs 7. The governments of Gujarat, Manipur, Tripura, Karnataka and Goa also announced a similar reduction in VAT on the two petroleum products.
Yogi Adityanath-led government in Uttar Pradesh and Manohar Lal Khattar-led government in Haryana reduced VAT on petrol and diesel by Rs 12.
Meanwhile, the Uttarakhand government reduced VAT on petrol and diesel by Rs 2 per litre. The two petroleum products had been seeing an upward trend recently.
The Finance Ministry had yesterday urged states to reduce VAT on petrol and diesel to provide relief to consumers.
The Finance Ministry had said that recent months have seen a global jump in crude oil prices and “consequently, domestic prices of petrol and diesel have increased under inflationary pressures in recent weeks”.
“The world has also seen shortages and increased prices of all forms of energy. The Central government has made efforts to ensure that there is no energy shortage in the country and that commodities such as petrol and diesel are available adequately to meet our requirements,” the ministry had said
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