Petrol, Diesel Price Drop after Several States Cut VAT. Check Fuel Rates

Petrol and diesel prices today, that is on Saturday, November 6, remained unchanged after a sharp fall following a dual tax cut across most of the country. The government had recently announced excise duty cut on the price of petrol and diesel in India. After this, several states, mostly ruled by the BJP, had joined in to announce a discount on Value Added Tax or VAT. Petrol, diesel price had seen their lifetime high before the Centre and the states announced excise cuts. However, after facing flak for the shocking fuel rates, the Centre had decided to implement a cut in excise duty on petrol by Rs 5 per litre and diesel by Rs 10 per litre. The additional step by states also helped reduce the petrol and diesel rates, which witnessed relentless hikes over the recent months.

Petrol price in Mumbai was cut to Rs 109.98 per litre. Diesel price in the financial capital stood at Rs 94.14 for one litre after the price cut.

With this price reduction, petrol was priced at Rs 103.97 in the national capital of Delhi. On the other hand, one litre of diesel here cost Rs 86.67 after the excise cut.

In Chennai, petrol price was reduced to Rs 101.40 for one litre while the price of that amount of diesel stood at Rs 91.43. Petrol price in Bhopal was at Rs 107.23, while diesel price in the Madhya Pradesh city was at Rs 90.87.

In West Bengal capital Kolkata, price of one litre of petrol on Friday stood at Rs 104.67. On the other hand, the price of one litre of diesel was fixed at Rs 89.79 in the eastern metropolitan city.

Buckling under pressure, the Union government had on Wednesday cut excise duty on petrol by Rs 5 per litre and that on diesel by Rs 10 a litre. This was aimed to give reprieve to consumers reeling under record-high retail fuel prices.

This announcement was followed by 22 states and Union Territories cutting Value-Added Tax rates in different proportions.

This has led to BJP and its partner ruled states witnessing steeper reductions in petrol and diesel prices in comparison to Maharashtra, Delhi, West Bengal and other states that are governed by other political parties, according to a price chart of different locations prepared by state-owned oil firms.

“Government of India has taken a significant decision of reducing Central Excise Duty on Petrol & Diesel by Rs 5 and Rs 10 respectively from tomorrow. Prices of petrol and diesel will thus come down accordingly,” the finance ministry had said in a statement on Wednesday.

“The Government of India 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,” it added.

Following are the prices of diesel and petrol across some cities in the country:

Mumbai

Petrol – Rs 109.98 per litre

Diesel – Rs 94.14 per litre

Delhi

Petrol – Rs 103.97 per litre

Diesel – Rs 86.67 per litre

Chennai

Petrol – Rs 101.40 per litre

Diesel – Rs 91.43 per litre

Kolkata

Petrol – Rs 104.67 per litre

Diesel – Rs 89.79 per litre

Bhopal

Petrol – Rs 107.23 per litre

Diesel – Rs 90.87 per litre

Hyderabad

Petrol – Rs 108.20 per litre

Diesel – Rs 94.62 per litre

Bengaluru

Petrol – Rs 100.58 per litre

Diesel – Rs 85.01 per litre

Chandigarh

Petrol – Rs 100.12 per litre

Diesel – Rs 86.46 per litre

Guwahati

Petrol – Rs 94.58 per litre

Diesel – Rs 81.29 per litre

Lucknow

Petrol – Rs 95.28 per litre

Diesel – Rs 86.80 per litre

Gandhinagar

Petrol – Rs 95.35 per litre

Diesel – Rs 89.33 per litre

Thiruvananthapuram

Petrol – Rs 106.36 per litre

Diesel – Rs 93.47 per litre