1 min read.Updated: 25 Nov 2021, 07:16 AM ISTLivemint
Fuel rates continued to remain steady as petrol and diesel prices remained unchanged on Thursday across various cities in the country.
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The price of auto fuel continued to remain steady as petrol and diesel prices stay unchanged on Thursday across various cities in the country including the national capital Delhi, metro cities Mumbai, Kolkata and Chennai.
As of Thursday, the cost of one litre of petrol in Delhi stands at ₹103.97 and that of diesel at ₹86.67 per litre. Meanwhile, In the country's financial capital, the petrol and diesel prices have remained static to ₹109.98/litre and ₹94.14 per litre, respectively.
As for Kolkata and Chennai, petrol and diesel cost ₹104.67 and ₹89.79 and ₹101.40 and ₹91.43 respectively in Chennai. Prices differ from state to state, depending on the incidence of local taxes and cost of transportation.
As per the Ministry of Petroleum and Natural Gas, following the reduction, 23 states and Union Territories s also undertook a commensurate reduction of VAT on Petrol and Diesel to give relief to consumers.
Meanwhile, the total incidence of taxes on petrol has come down to 50 per cent and that on diesel to 40 per cent following a reduction in excise duty by the central government, and by a slightly higher proportion in states that have also cut local sales tax or VAT on the fuel.
Earlier this week, Chhattisgarh Government reduced Value Added Tax (VAT) on diesel by 2 per cent and on petrol by 1 per cent.
The Chhattisgarh Chief Minister Bhupesh Bhagel said that by this move, the state government will incur a loss ₹1,000 crore.
"VAT on petrol reduced by 1 per cent. State Government will bear about ₹1,000 crores loss," the tweet read.