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Delhi govt slashes VAT on fuel to 19.4%, petrol gets cheaper by 8 per litre

The decision to reduce the VAT on fuel was taken during a Cabinet meeting chaired by Delhi chief minister Arvind Kejriwal earlier in the day.
On the eve of Diwali this year, the Centre cut excise duty by 5 per litre on petrol and 10 per litre on diesel to bring down the retail prices across the country.(File photo)
Published on Dec 01, 2021 12:21 PM IST
By | Written by Avik Roy, New Delhi

The Delhi government on Wednesday slashed the value added tax (VAT) to fuel price from 30% to 19.40%, making petrol cheaper by 8 per litre in the national capital.

The decision was taken during a Cabinet meeting chaired by chief minister Arvind Kejriwal earlier in the day.

Taking to Twitter, soon after announcing the decision, Kejriwal said once implemented the fuel price would become cheaper in Delhi as compared to other cities in the national capital region.

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The Centre cut excise duty on petrol by 5 per litre and 10 per litre on diesel to bring down the retail prices across the country on the eve of Diwali last month.

Following the Centre's surprise move, several states and Union territories, especially those governed by the Bharatiya Janata Party (BJP) and allies, also followed suit

The price of fuel remained unchanged for the 28th straight day on Wednesday across the country, following the Centre's decision. Before the Delhi government's decision to slash VAT on fuel price, petrol fetched 103.97 a litre while diesel was being sold for 86.67 per litre earlier in the day.

On the day, the rates of petrol and diesel varied across several cities. While petrol cost 95.51 a litre in neighbouring Noida, in Gurugram it fetched 95.9 for each litre, 94.23 in Chandigarh, 95.28 in Lucknow and 107.06 in Jaipur. The price of petrol in other metro cities also remained above the 100-mark. While in Mumbai it cost the highest at 109.98 a litre, in Kolkata it came for 104.67, while in Chennai, Bengaluru and Hyderabad it cost 101.4, 100.58 and 108.2, respectively.

Similarly, diesel fetched 87.01 a litre in Noida while it cost 87.11 in neighbouring Gurugram. In Chandigarh, diesel cost 80.9 for each litre, 86.8 in Lucknow and 90.7 in Jaipur. Among the metros, diesel came for 94.14 in Mumbai, 89.79 in Kolkata, 91.43 in Chennai while in Bengaluru and Hyderabad it cost 85.01 and 94.62, respectively.

Government-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.

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