Petrol and diesel prices in India remained steady for the seventh consecutive day on Wednesday, November 10, despite the Centre lowering excise duties and more than 20 states lowering VAT. The Centre lowered excise duty on fuels last week, lowering the price of petrol by Rs 5 and diesel by Rs 10. Petrol prices have dropped below Rs 100 per litre in most parts of the country as a result of the price cut.
Several states, largely run by the NDA and the BJP, have also joined the effort to lower the VAT on gasoline and diesel, making them even more affordable. Now, states ruled by the opposition are following them in lowering fuel VAT rates.
Rajasthan is the most recent Opposition-ruled state to join the list of states that have reduced VAT rates on gasoline and diesel prices.
Rajasthan Chief Minister Ashok Gehlot announced on Tuesday that his administration would lower petrol and diesel rates in response to mounting BJP pressure. He did not, however, say when this would happen or how much tax would be reduced.
“Once all of the states have dropped their costs, we would have to do the same.” “he remarked in front of a large crowd. “Our government will also bring relief to citizens by lowering the state’s VAT on gasoline and diesel.” “Gehlot continued.
Punjab was the first state outside of the BJP to declare a VAT reduction. “We are decreasing the tariff of petrol by Rs 10 per litre and diesel by Rs 5 per litre from midnight,” said state minister Charanjit Singh Channi on Sunday.
The new prices were implemented on Monday. From Monday, petrol prices in Punjab were reduced to Rs 95 per litre, while diesel prices were reduced to Rs 83.75 per litre.
Petrol prices in the national capital of Delhi were dropped to Rs 103.97 on Wednesday as a result of the Centre’s tax reduction. On the other hand, a litre of diesel in this city cost Rs 86.67 on that particular day. No VAT reduction has been announced in Delhi.
On the day, the price of petrol in Mumbai was Rs 109.98 a litre. After the price drop, the retail price of diesel in the financial capital remained steady at Rs 94.14 per litre.
On Monday, the price of a gallon of petrol in Kolkata, West Bengal’s capital, was Rs 104.67. In the eastern metropolitan metropolis, however, the price of a litre of fuel was set at Rs 89.79.
In Chennai, the price of a litre of petrol was Rs 101.40, while that of a litre of diesel was Rs 91.43. On the day, the price of petrol in Bhopal was Rs 107.23, while the price of diesel in the Madhya Pradesh capital was Rs 90.87.
Prior to the tax cuts, central excise of Rs 32.90 per litre and 30% VAT in Delhi accounted for 54% of the retail selling price of diesel, according to PTI, citing a price hike by state-owned OMCs. According to PTI, this has dropped to 50% in Delhi following a Rs 5 per litre reduction in excise charge.
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