Petrol Cheaper By Rs 8.56 Per Litre In Delhi As State Government Cuts Tax. See Rates

The Delhi government on Wednesday reduced value-added tax (VAT) on petrol from 30 per cent to 19.40 per cent. The decision marked Rs 8.56 per litre reduction in petrol prices from Thursday in the national capital.

Petrol Cheaper By Rs 8.56 Per Litre In Delhi As State Government Cuts Tax. See Rates

Diesel prices have been kept unchanged at Rs 86.67 in Delhi.

Petrol, Diesel Prices Today: The Delhi government on Wednesday reduced value-added tax (VAT) on petrol from 30 per cent to 19.40 per cent. The decision marked Rs 8.56 per litre reduction in petrol prices from Thursday in the national capital. A litre of petrol now costs Rs 95.41 from Rs 103.97 earlier.

The fuel prices in Delhi have now become cheaper compared to other cities in the National Capital Region (NCR), Delhi Chief Minister Arvind Kejriwal said.

However, diesel prices have been kept unchanged at Rs 86.67 in Delhi. Fuel prices in other states also remain unchanged.

In Mumbai, petrol is retailed at Rs 109.98 per litre; while diesel is being sold at Rs 94.14 per litre. Among the metro cities, fuel rates are the highest in Mumbai. The rates vary across the states due to VAT.

(Also Read: How To Check Latest Petrol And Diesel Rates In Your City). 

Here are the petrol and diesel price across the metro cities:

CityPetrolDiesel
Delhi95.4186.67
Mumbai109.9894.14
Chennai101.4091.43
Kolkata104.6789.79
Source: Indian Oil

State-run oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum revise the fuel rates on a daily basis, by taking into account the crude oil prices in the international markets, and the rupee-dollar exchange rates. Any changes in petrol and diesel prices are implemented with effect from 6 am every day.

Globally, oil prices rose reversing the previous day's losses, on expectations OPEC+ may pause supply additions amid growing concern the spread of the Omicron coronavirus variant could weigh on the global economy and fuel demand. U.S. West Texas Intermediate (WTI) crude futures gained 48 cents, or 0.7 per cent, to $66.05 a barrel, after a 0.9% drop on Wednesday. Brent crude futures were up 48 cents, or 0.7 per cent, at $69.35, having eased 0.5 per cent in the previous session.

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