Petrol, Diesel Price Drop: 50% Tax Cut on Petrol, Diesel. Know Rates in Your City

Petrol and diesel prices on Thursday, November 18 remained stable again. This was the 15th straight day that the prices of the auto fuels were kept unchanged. after a record run until the eve of Diwali. The Union government had on that day announced excise duty cut on petrol, diesel prices. The petrol and diesel price dropped by Rs 5 and Rs 10 after the slashing of the taxes. This move came amid the Centre receiving flak after petrol, diesel prices saw a record high, and went over Rs 100 in most places. States, taking a cue, also joined to cut Value Added Tax on petrol and diesel, making the prices cheaper in the respective areas.

With the Centre’s tax reduction, petrol price was cut to at Rs 103.97 in the national capital of Delhi and remained unchanged on Wednesday. On the other hand, one litre of diesel here cost Rs 86.67 on the day. Delhi has not announced any VAT cut.

The total incidence of taxes on petrol has come down to 50 per cent after the excise duty cut by the Central government. The tax on diesel dropped to 40 per cent after the move.

Petrol price in Mumbai stood at Rs 109.98 per litre on the day. Diesel price in the financial capital was retailing at Rs 94.14 for one litre after the price cut, and was unchanged too.

The petrol price remained stable in Kolkata too. A litre of petrol would cost you Rs 104.67 in Kolkata. A litre of diesel was available at Rs 89.79 per litre in the eastern city.

In Chennai, petrol was retailing at Rs 101.40 on November 14. Diesel price also remained unchanged at Rs 91.43 per litre.

The states/UTs that extended additional VAT benefits are Ladakh, Karnataka, Puducherry, Jammu & Kashmir, Sikkim, Mizoram, Himachal Pradesh, Daman & Diu, Dadra & Nagr Haveli, Chandigarh, Assam, Madhya Pradesh, Tripura, Gujarat, Nagaland, Punjab, Goa, Meghalaya, Odisha, Arunachal Pradesh, Manipur, Andaman & Nicobar, Bihar, Uttarakhand, Uttar Pradesh and Haryana.

Rajasthan became the second Congress-ruled state to reduce the VAT on petrol and diesel. Earlier, Punjab had also done the same. Some Congress-ruled states, however, had not cut VAT and had demanded further reduction in central excise duty. With this, petrol price became cheaper by Rs 4 in the satte, while diesel price was cut by Rs 5. Rajasthan had earlier notified about the decision but the amounts were not revealed.

States that have so far not lowered VAT include Congress and its allies ruled Chhattisgarh, Maharashtra, Jharkhand and Tamil Nadu. AAP-ruled Delhi, TMC-governed West Bengal, Left-ruled Kerala, TRS-led Telangana and YSR Congress-ruled Andhra Pradesh have also not cut VAT.

Following are the prices of diesel and petrol across some major 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 86.67 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