The Delhi government lowered the value added tax (VAT) on fuel prices from 30% to 19.40% on Wednesday, bringing petrol prices in the national capital down by ₹8 per litre.
The decision was made earlier in the day during a Cabinet meeting hosted by Chief Minister Arvind Kejriwal.
Petrol will now cost Rs 95.97. Before the reduction, the cost was Rs 103.97.
The price of petrol and diesel in India stayed steady on Tuesday, November 30. Today, Delhi petrol price has decreased rapidly.
According to a notification from the state-run oil marketing businesses, the price of gasoline and diesel remained steady for the 27th day in a row (OMCs). Since the day of Diwali, when the central government announced an excuse duty drop on petrol and diesel prices, fuel prices in India have been slashed.
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Prime Minister Narendra Modi announced a Rs 5 reduction in the price of petrol. Also, a Rs 10 reduction in the price of diesel resulting of decrease in Delhi petrol price. Following this, states dominated by the BJP or the NDA hastened to decrease the value-added tax on gasoline and diesel, lowering their prices even further.
The move came as India’s auto fuel prices reached new highs, putting the common man in a pickle.
Delhi Petrol prices were dropped to Rs 103.97.
This was a result of the Centre’s tax reduction and stayed steady.
The price of petrol in Mumbai was Rs 109.98 a litre, the highest in the metropolitan city. On Tuesday, the price of a litre of petrol in Kolkata was Rs 104.67. On Tuesday, the price of a litre of petrol in Chennai was Rs 101.40. Same day, the price of petrol in Raipur was Rs 101.11.
Prices for gasoline and diesel vary by state due to factors such as worldwide crude oil prices, VAT, and freight charges. Every day at 6 a.m. local time, India’s oil marketing companies update the price of gasoline and diesel.
The Centre also announced a cut in excise duty in the first week of November. Prices for fuel and diesel were reduced by Rs 5 and Rs 10 respectively after the reduction. Following this declaration, the BJP in Delhi demanded that Kejriwal reduce VAT by Rs 10 per cent.
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