Petrol, Diesel Price Drops Below Rs 100 in Many States After Tax Cut
Petrol and diesel price on Sunday, November 21 remained unchanged for almost 20 days, with the ongoing month seeing only three consecutive hikes. The prices of these auto fuels were kept constant for the 18th consecutive day, according to a notification by the state-run oil marketing companies (OMCs). The price of petrol and diesel dropped sharply after the Union government had decided to reduce the excise duty on auto fuel at the beginning of this month. After receiving criticism from a chunk of the masses as well as Opposition parties, the central government cut excise duty on petrol by Rs 5 per litre and that on diesel by Rs 10 a litre on the eve of Diwali.
Following this decision several status, mostly ruled by National Democratic Alliance (NDA) and allies have also cut the Value Added Tax (VAT) on petrol and diesel prices. With this, petrol price has come down under Rs 100 in most of the states in India.
With the Centre’s tax reduction, petrol price was cut to at Rs 103.97 in the national capital of Delhi and remained unchanged on Sunday. Petrol price in Mumbai stood at Rs 109.98 per litre on the day, the highest among the metropolitan city. In Kolkata, price of one litre of petrol on Sunday stood at Rs 104.67. In Chennai, petrol price was at Rs 101.40 for one litre on the day.
A litre of diesel cost Rs 86.67 on the day. The Delhi government has not announced any VAT cut. Diesel price in the financial capital was retailing at Rs 94.14 for one litre after the price cut, and was unchanged too. The price of one litre of diesel was fixed at Rs 89.79 in Kolkata. In Chennai, diesel price stood at Rs 91.43 per litre while a litre of diesel would cost Rs 90.87 in Madhya Pradesh’s Bhopal.
So far, about 24 states and Union Territories have cut down the Valur Added Tax on petrol and diesel. Most of the states that have slashed the prices from their side are either BJP or NDA-ruled ones. Punjab and Rajasthan are the only two Congress-ruled states to have reduced the taxes from their side. Some Congress-ruled states, however, had not cut VAT and had demanded further reduction in central excise duty.
Petrol and diesel prices vary from state to state based on factors like international crude oil prices, VAT and freight charges. The oil marketing companies update the price of petrol and diesel everyday at 6 am.
Following are the prices of diesel and petrol across some major cities in the country:
Petrol price in Mumbai: Rs 109.98 per litre
Diesel price in Mumbai: Rs 94.14 per litre
Petrol price in Delhi: Rs 103.97 per litre
Diesel price in Delhi: Rs 86.67 per litre
Petrol price in Chennai: Rs 101.40 per litre
Diesel price in Chennai: Rs 91.43 per litre
Petrol price in Kolkata: Rs 104.67 per litre
Diesel price in Kolkata: Rs 89.79 per litre
Petrol price in Bhopal: Rs 107.23 per litre
Diesel price in Bhopal: Rs 90.87 per litre
Petrol price in Hyderabad: Rs 108.20 per litre
Diesel price in Hyderabad: Rs 94.62 per litre
Petrol price in Bengaluru: Rs 100.58 per litre
Diesel price in Bengaluru: Rs 85.01 per litre
Petrol price in Chandigarh: Rs 100.12 per litre
Diesel price in Guwahati: Rs 81.29 per litre
Petrol price in Lucknow: Rs 95.28 per litre
Diesel price in Lucknow: Rs 86.80 per litre
Diesel price in Chandigarh: Rs 86.46 per litre
Petrol price in Guwahati: Rs 94.58 per litre