Petrol and Diesel prices have been cut across the country after the central government reduced excise and states slashed VAT charges. Excise duty has been reduced by Rs 5 on petrol and Rs 10 on diesel while deduction in VAT varies from state to state.
The petrol and diesel prices in the national capital today are Rs 110.04 and Rs 98.42 per litre respectively
Petrol and diesel have been priced at Rs 110.49 and Rs 101.56 per litre respectively in West Bengal's Kolkata and Rs 106.66 and Rs 102.59 per litre respectively in Chennai.
Petrol in Delhi now costs Rs 107.24 a litre and diesel comes for Rs 95.97, according to a price notification of state-owned fuel retailers.
On Monday, a source said the Ministry of Petroleum and Natural Gas recently raised concerns about the matter of pricing, supply and demand of oils to the major oil-producing countries.
Rs 2-3 per litre cut in excise duty on petrol and diesel might be announced as a shield to prevent a further spike in prices of fuels.
Priyanka Gandhi Vadra's attack on the Modi government came over auto fuels now costing a third more than the rate at which aviation turbine fuel (ATF) is sold to airlines.
Petrol and diesel prices hiked by 0.31 to 0.37 paisa on Thursday after a pause of two straight days. In the national capital, petrol and diesel rates jumped 35 paise to cost ₹ 104.79 and ₹ 93.52 per litre respectively, according to Indian Oil Corporation.
Petrol price was hiked by 30 paise per litre and diesel by 35 paise a litre, according to a price notification of state-owned fuel retailers
With the latest hike, the price of petrol in the city shot up to Rs 107.41 per litre and that of diesel to Rs 100.13 per litre.
In the state capital Bhopal, the price of diesel reached Rs 100.1 per litre, while petrol stood at Rs 111.10 per litre, Ajay Singh, the president of Petrol Pump Dealers Association (PPDA), told PTI.
Diesel price on Monday was hiked again by 24 to 26 paise per litre. This is the third increase after the state-owned oil firms ended a three-week hiatus in rates.
The GST Council meeting is currently underway in Lucknow. It is being presided over by Finance Minister Nirmala Sitharaman.
The GST Council might on Friday consider taxing petrol, diesel and other petroleum products under the single national GST regime, a move that may require huge compromises by both central and state governments on the revenues they collect from taxing these products.
M Fuel Kart Pvt Ltd has signed an agreement with BPCL to offer doorstep delivery of high-speed diesel in Delhi-NCR.
The initiative of door-to-door delivery through mobile dispensers has resulted in the commissioning of 1588 FuelKarts and 129 FuelEnts within a span of about two years across the industry.
Chidambaram also asked if prices had not changed as all chiefs of oil marketing companies were in quarantine until Aug 15 or all those reasons were responsible for it.
Petrol prices in the Mumbai rose to Rs 107.83 per litre on July 19, The price of diesel in the city was Rs 97.45 per litre.
The petrol prices were hiked in India on July 15 while diesel rates also followed a similar trend. Petrol price in the national capital rose to Rs 101.54 per litre on Thursday. Diesel sold at Rs 89.87 per litre. In Mumbai, the retail price of both petrol and diesel stood at Rs 107.54 and 97.45 respectively. As for Bhopal, petrol price stood at Rs 109.89 per litre and diesel cost Rs 98.67 per litre. Kolkata reported Rs 101.74 per litre for petrol and Rs 93.02 per litre for diesel.
Petrol price in Delhi crossed Rs 100-mark on Wednesday after a fresh hike of Rs 35 paise. A litre of petrol in the national capital is being sold at Rs 100.21. The cost of diesel is Rs 89.53 a litre after oil companies hiked the price by 17 paise.
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