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Business News/ News / India/  Petrol, diesel prices today: Check latest fuel rates in major cities
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Petrol, diesel prices today: Check latest fuel rates in major cities

Petrol, diesel prices today: The cost of petrol in Delhi stands at ₹96.72 per litre from ₹105.41 per litre before the cut in excise duty, and diesel price stands at ₹89.62 per litre against its earlier price of ₹96.67

Maharashtra Chief Minister Eknath Shinde on Thursday announced that the state government will reduce value added tax (VAT) on petrol and diesel by ₹5 and ₹3 per litre respectively. (REUTERS)Premium
Maharashtra Chief Minister Eknath Shinde on Thursday announced that the state government will reduce value added tax (VAT) on petrol and diesel by 5 and 3 per litre respectively. (REUTERS)

The Oil marketing companies(OMCs) on Friday, July 15 released new petrol and diesel rates. Notably, Maharashtra Chief Minister Eknath Shinde on Thursday announced that the state government will reduce value added tax (VAT) on petrol and diesel by 5 and 3 per litre respectively. This has been done in an attempt to provide relief to the people of Maharashtra from skyrocketing fuel prices.

Fuel prices in major cities: 

In Mumbai, following the reduction in VAT, petrol will now be available at 106.35 per liter instead of the earlier price of 111.35 and diesel will be available at 94.28 per litre instead of the earlier price of 97.28.

The cost of petrol in Delhi stands at 96.72 per litre from 105.41 per litre before the cut in excise duty, and diesel price stands at 89.62 per litre against its earlier price of 96.67. Petrol price in Chennai stands at 102.63 per litre and diesel price today stands at 94.24 per litre. In Kolkata, petrol is retailing at 106.03 per litre and diesel at 92.76 per litre.

It is important to note that the Maharashtra Chief Minister Eknath Shinde informed reporters after a cabinet meeting that the decision would entail a burden of 6,000 crore on the state exchequer. Maharashtra Deputy Chief Minister Devendra Fadnavis has said the decision was part of the Shiv Sena-BJP government’s commitment to people’s welfare.

The Deputy Chief Minister of Maharashtra took to Twitter to share," great relief to Maharashtrian & Marathi Manus !Happy to announce that new Government under CM Eknathrao Shinde has decided to reduce Petrol & Diesel prices by 5/litre & 3/litre respectively."

Meanwhile earlier this year in April, Prime Minister Narendra Modi had said that the centre and state governments should work in tandem, while reiterating the theme of cooperative federalism and also calling on states that haven't followed the reduction in excise duty on petrol and diesel by the Centre in November with a decrease in Value Added Tax (VAT) to do so. Prime Minister Narendra Modi emphasised that high taxes on petrol and diesel in such states - almost all opposition-led - are an injustice to the people.

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Published: 15 Jul 2022, 07:45 AM IST
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