Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on Tuesday said oil companies will determine the fuel prices and assured that there will be no shortage of crude oil in the country.
Apart from Delhi, CNG will be Re 1 per kg more expensive in Noida, Greater Noida, and Ghaziabad.
Presently, 10 per cent ethanol, extracted from sugarcane or surplus foodgrain, is blended or mixed in petrol (meaning 10 per cent of ethanol mixed with 90 per cent of petrol) with a view to cutting oil import dependence and provide farmers with an additional source of income.
Fuel prices have fallen in Delhi as it reduced the value added tax (VAT) on the fuel from 30 per cent to 19.40 percent on Wednesday.
Mamata Banerjee said that the Centre slashed excise duty recently on petrol and diesel with an eye on the upcoming Assembly elections in five states.
Chief Minister Charanjit Singh Channi made the announcement while addressing the media after the cabinet meeting. "We are reducing petrol rate by Rs 10 per litre and diesel rate by Rs 5 per litre from midnight," CM Channi said.
Petrol will cost Rs 103. 97 per litre in Delhi against Rs 110. 04 per litre, according to a price notification of state-owned fuel retailers. Diesel rates accordingly will reduce to Rs 86. 67 per litre from Rs 98. 42 per litre
"The state government has decided to reduce the VAT by Rs 7 and Rs 2 respectively on petrol and diesel," Additional Chief Secretary Navneet Sehgal said
After Assam, Tripura Chief Minister Biplab Kumar Deb on Wednesday announced that petrol and diesel prices in the state will be reduced by Rs 7 effective from November 4 (Thursday).
The petrol and diesel prices in the national capital today are Rs 110.04 and Rs 98.42 per litre respectively
The Central government is in talks with several oil-exporting countries on the issue of supply and demand of oils but there is no possibility of immediate relief in prices.
The Central government is in talks with several oil-exporting countries on the issue of supply and demand of oils but there is no possibility of immediate relief in prices.
The central government is in talks with several oil-exporting countries on the issue of supply and demand of oils but there is no possibility of immediate relief in prices.
The central government is in talks with several oil-exporting countries on the issue of supply and demand of oils but there is no possibility of immediate relief in prices.
The minister said Assam is among states that have the least VAT (value-added tax) on petrol.
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.
Rates have been increased across the country and differ from state to state depending on the incidence of value-added tax.
Petrol and diesel prices are revised by the oil marketing companies. Rates have been increased across the country and differ from state to state depending on the incidence of value-added tax.
Diesel price was raised on Friday as well by 20 paise per litre which oil marketing company sources said was based on the global price movement of the fuel.
Petroleum Minister Hardeep Singh Puri said that petrol prices in the country are not coming down as the states do not want to bring fuel under the ambit of the GST.
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