Profit

Petrol, Diesel Prices Today (October 7): Check Out Rates On Day 4 After Excise Duty Cut

The excise duty on petrol and diesel was reduced earlier this week by Rs 2 per litre each to provide some relief to consumers from a three-month long relentless price hike.

 Share
EMAIL
PRINT
COMMENTS
Petrol, Diesel Prices Today (October 7): Check Out Rates On Day 4 After Excise Duty Cut

Excise duty on petrol and diesel was cut by more than Rs 2 per litre effective October 4

Highlights

  1. Petrol rate in Delhi at Rs. 68.35 a litre, diesel at Rs 56.94 a litre
  2. Excise duty on petrol, diesel cut with effect from Wednesday
  3. Petrol rates, diesel rates revised on a daily basis, effective 6 am
Petrol rates and diesel rates today were little changed as compared to Friday's prices. Currently, petrol rates and diesel rates are revised on a daily basis. The new petrol rates and diesel rates take effect at 6 am every day. Excise duty on petrol and diesel was cut effective October 4, which has brought down the prices of the fuels by more than Rs 2 per litre. Meanwhile, Oil Minister Dharmendra Pradhan has asked states to follow the Centre's footsteps in cutting taxes on petrol and diesel. The Centre had earlier this week cut excise duty on petrol and diesel by Rs 2 per litre each to provide some relief to consumers from a three-month long relentless price hike.

Petrol, diesel price today after revision


On Saturday, non-branded petrol rates were at Rs 68.35 per litre in Delhi, Rs 71.13 in Kolkata, Rs 77.48 in Mumbai and Rs 70.82 in Chennai, marginally lower from Friday's petrol rates, according to Indian Oil's website. The price of unbranded diesel was at was at Rs 56.94 in Delhi, Rs 59.60 in Kolkata, 60.49 in Mumbai and Rs 59.94 in Chennai, according to the Indian Oil website, about a paisa lower compared to Friday's rates. 
 
Unbranded Petrol (Rs) Delhi Kolkata Mumbai Chennai
7-Oct68.3571.1377.4870.82
6-Oct68.3671.1477.4970.83
5-Oct68.3871.1677.5170.85
4-Oct68.3871.1677.5170.85
(Petrol rates in metro cities as given on the IOC website. Prices may vary from outlet to outlet within a city)
 
Unbranded Diesel (Rs) Delhi Kolkata Mumbai Chennai
7-Oct56.9459.660.4959.94
6-Oct56.9559.6160.559.95
5-Oct56.959.5660.4459.9
4-Oct56.8959.5560.4359.89
(Diesel rates in metro cities as given on the IOC website. Prices may vary from outlet to outlet within a city)

Global crude oil prices have surged to their highest level in two years on optimism of a demand pick-up and geopolitical tensions. The excise duty cut on petrol and diesel would cost the government Rs 26,000 crore in annual revenue and about Rs 13,000 crore during the remaining part of the current fiscal year that ends on March 31, 2018.

Previously, the petrol and diesel rates were changed every fortnight but since June 16, they are revised daily to immediately pass on any movement in international oil prices to consumers and avoid sharp spikes by spreading them in small doses.

Petrol and diesel don't come under the ambit of GST (Goods and Services Tax). Besides, global prices, excise duty and VAT determine the domestic price of petrol and diesel. India relies on imports to meet 80 per cent of its needs.

NDTV Beeps - your daily newsletter

................................ Advertisement ................................

................................ Advertisement ................................

................................ Advertisement ................................

Top