"Despite the biggest oil crisis, Modi's family was not affected due to his visionary and intuitive leadership. Instead of increasing, petrol prices in India decreased by 4.65 per cent in the last two and a half years," Union Minister Hardeep Singh Puri hailed the Modi government.
A day after Centre cut excise duty on petrol and diesel, the Maharashtra government on Sunday slashed VAT on fuel. The government added that the state will have to bear an additional loss of Rs 2,500 for this move.
In the national capital, the excise duty cut will result in a reduction of Rs 9.5 a litre on petrol in Delhi and Rs 7 a litre in diesel after taking into account its impact on other levies.
The government on Saturday cut excise duty on petrol by a record Rs 8 per litre and that on diesel by Rs 6 per litre to give relief to consumers battered by high fuel prices that have also pushed inflation to a multi-year high.
The Union government had on Wednesday cut excise duty on petrol by Rs 5 per litre and that on diesel by Rs 10 a litre to give reprieve to consumers battered by record-high retail fuel prices.
The government on Wednesday cut excise duty on petrol by Rs 5 per litre and that on diesel by Rs 10 a litre to give reprieve to consumers battered by record-high retail fuel prices. Since states charge local sales tax or VAT not just on the base price but also on the excise duty levied by the Centre, the total incidence of price reduction is higher. The reduction was larger in states with higher VAT.
Across the country as well fuel prices were cut between 15-20 paise per litre but their retail rates varied depending on the level of local taxes in each state.
Diesel prices also declined across the four metros on Sunday. Price of the fuel in Delhi was lowered by 20 paise to Rs Rs 89.07 per litre from the previous level.
The Centre might have slashed the fuel rates so that the BJP does not suffer on the issue of price rise in the five poll-bound states, including West Bengal, the Shiv Sena alleged on Friday without naming the NDA constituent.
Petrol price was cut to Rs 90.99 a litre in Delhi from Rs 91.17 per litre, according to a price notification of state-owned fuel retailers. Diesel now comes for Rs 81.30 a litre in the national capital, down from Rs 81.47 previously.
In Delhi, the price of petrol was slashed to ₹ 81.86 from ₹ 81.99 per litre and diesel rates were lowered to ₹ 72.93/litre from ₹ 73.05 per litre, according to notifications by the state-run Indian Oil Corporation, the country's largest fuel retailer.
Fuel prices were further reduced on Thursday due to a slump in demand after the coronavirus was declared pandemic. The price of petrol was reduced by 15-16 paise and that of diesel by 12-13 paise across all major cities in the country.
Fuel prices dropped further after international crude oil went into a free fall due major slump in demand following the global outbreak of coronavirus epidemic. The price of petrol was cut by 24-27 paise a litre and that of diesel by 25-26 a litre across all major cities in the country on Monday.
Likewise, in Mumbai, for petrol and diesel, you have to pay Rs 84.68 per litre (decrease by Rs 0.18) and Rs 77.18 per litre (decrease by Rs 0.14), respectively.
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Finance Minister Arun Jaitley announced a excise duty cut of Rs 2.50 per litre in the retail prices of petrol and diesel and had also asked the state governments to respond by matching the tax cut
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