Petrol, Diesel Price Drops after Centre Cuts Excise Duty; Check Petrol Price Today

Melanthy

Editor

posted on 2 years ago — updated on 1 second ago

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In order to give relief to consumers, who were battered by sky rocketing fuel prices, the government had cut the price of petrol by Rs 5 and that of diesel by Rs 10.

Petrol and diesel prices remained unchanged for over a month on Wednesday, December 29.According to the latest price notification by state-owned fuel retailers, petrol-diesel prices remained unchanged on Wednesday after the Union government implemented the highest-ever excise duty cut to bring down retail pump prices from all-time record highs. In order to give relief to consumers, who were battered by sky rocketing fuel prices, the government had cut the price of petrol by Rs 5 and that of diesel by Rs 10. Following the decision, several states, mostly ruled by National Democratic Alliance (NDA) and allies, have also cut the Value Added Tax (VAT) on both key auto fuels.

Similarly, the Delhi state government was the latest in the list to reduce VAT on petrol from 30 per cent to 19.40 per cent from December 1, cutting the price by around Rs 8 per litre in the national capital to Rs 95.41 per litre. The rate remained the same on December 29, Likewise, diesel prices have also stayed put at Rs 86.67 per litre in Delhi.

In Mumbai, petrol costs Rs 109.98 per litre, while the rate of diesel was Rs 94.14 per litre. On May 29, Mumbai became the first metro in the country, where petrol surged Rs 100 per litre mark.

In Kolkata, a litre of petrol is priced at Rs 104.67. On Wednesday, the price of a litre of diesel was Rs 101.56 per litre.Petrol in Chennai costs Rs 101.67 per litre while diesel costs Rs 91.43 a litre.

Meanwhile, crude oil benchmarks – U.S. crude, Brent traded near their highest since late November. According to a Reuters report, Brent crude futures rose 23 cents, or 0.3 percent, at $79.17 per barrel by 0101 GMT. Whereas, the U.S. West Texas Intermediate (WTI) crude added 21 cents, or 0.3 percent, at $76.19 per barrel, gaining for sixth straight session.

https://www.reuters.com/markets/commodities/oil-firms-near-highest-since-late-november-risk-appetite-2021-12-29/

Check out the petrol and diesel rates in your city:

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 91.43 per litre

Kolkata