After Centre Cuts Excise Duty, Several States Slash VAT On Petrol, Diesel; Check New Rates
On the eve of Diwali, the government on Wednesday cut the excise duty on petrol and diesel by Rs 5 and Rs 10 respectively to bring down retail rates from record highs. The decision is likely to be greeted as a long-expected succour to consumers, who have been reeling under steep price rises in both fuels almost the entire year.
On the eve of Diwali, the government cut the excise duty on petrol and diesel by Rs 5 and Rs 10 respectively to bring down retail rates from record highs.
The decision is likely to be greeted as a long-expected succour to consumers, who have been reeling under steep price rises in both fuels almost the entire year.
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The price of petrol in the national capital stood at Rs 110.08 on Wednesday, having risen by Rs 20 in the last six months alone.
Following in the footsteps of the Central government, several states, mostly BJP-ruled ones have announced a reduction of Value Added Tax (VAT) on petrol and diesel, making them even cheaper. This includes five states that will go to the polls next year.
States followed suit too
In Uttar Pradesh, a state that will go to polls early next year, the Yogi Adityanath government further slashed the fuel prices to make diesel and petrol cheaper by Rs 12 per litre.
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On Wednesday petrol was sold for Rs 106.96 per litre in the state and diesel at Rs 98.91 per litre.
From Thursday, petrol will be available at Rs 94.96 per litre and diesel at Rs 86.91 per litre.
In Gujarat, the government has reduced the VAT on petrol and diesel by Rs 7 per litre each.
With this decision, petrol will now cost Rs 95.13 per litre and diesel Rs 89.12 per litre in Ahmedabad, while the two fuels will cost Rs 94.89 and Rs 88.89, respectively, in Surat.
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In Karnataka, Chief Minister Basavaraja Bommai reduced the Karnataka Sales Tax (KST) on petrol and diesel by Rs 7 each as a Diwali gift to the people.
In Karnataka, a tax of Rs 59 was levied, consisting of Rs 32.9 in central additional excise duty (AED) and 35 per cent in the state sales tax (on the amount of Rs 41.8) and AED. In total, there will be a reduction of Rs 17 per litre of diesel and Rs 12 for petrol.
Before the cut by the Central government, petrol was sold at Rs 113.93 in Bengaluru and diesel at Rs 104.50.
In Uttarakhand, Chief Minister Pushkar Singh Dhami on Wednesday announced a reduction in VAT on petrol by Rs 2 per litre in the state making it cheaper by Rs 7 from Thursday.
Goa, Assam and Tripura have also reduced the prices of petrol and diesel by Rs 7 per litre in their states.
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In the national capital, petrol price on Thursday was cut by Rs 6.07 per litre and diesel price by Rs 11.75.
Petrol will cost Rs 103.97 per litre in Delhi against Rs 110.04 per litre, according to a price notification of state-owned fuel retailers.
Diesel rates accordingly will reduce to Rs 86.67 per litre from Rs 98.42 per litre.
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In Mumbai, petrol price has been cut by Rs 5.87 to Rs 109.98 per litre and diesel by Rs 12.48 to Rs 94.14 per litre. Kolkata saw the price of diesel being reduced by Rs 5.82 to Rs 104.67 per litre and that of diesel by Rs 11.77 to Rs 89.79 per litre.
In Rajasthan, the price of diesel will decrease by about Rs 12.60 and petrol by Rs 6.80.
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Bobins Abraham is the Assistant News Editor at Indiatimes. He has more than twelve years of experience in TV and digital journalism. An avid student of history and geopolitics, he is a conservationist and environmentalist at heart. He writes on environment, sustainability, human-animal conflict and more.
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