Fuel prices came down today, a day after the central government cut the excise duty on petrol and diesel. Finance Minister Nirmala Sitharaman yesterday announced a record cut of Rs 8 per litre of petrol and Rs 6 per litre on diesel. The move comes a month after inflation surged to an eight-year high in April and is aimed at giving relief to consumers.
The excise duty hikes of 2020 had taken central taxes on petrol to their highest level of Rs 32.9 per ltire and that on diesel to Rs 31.8 a litre.
Saturday's cut on excise duty reduced the price of petrol by Rs 9.5 per litre and of diesel by Rs 7 per litre after taking into account its impact on other levies. Some states also cut the VAT of fuel, further reducing the price of petrol and diesel
Petrol was being retailed at Rs 120.51 per litre in Mumbai, while diesel is sold at Rs 104.77.
The petrol price in Mumbai today fell to Rs 111.35 per litre, while diesel now costs Rs 97.28 per litre.
Petrol price in Delhi costs Rs 96.72 a litre against Rs 105.41 a litre while diesel will cost Rs 89.62 a litre as opposed to Rs 96.67 a litre.
In Kolkata, the petrol price on Sunday came to Rs 106.03 a litre from Rs 115.12. Diesel price in Kolkata fell to Rs 92.76 a litre.
Petrol price in Chennai came down to Rs 102.63 a litre today as against Rs 110.85 yesterday while diesel costs Rs 94.24 a litre as opposed to Rs 100.94 now.
Petrol and diesel prices are updated every day at 6 am.