New Delhi: Amid pressure due to rising inflation, the Central government on Saturday slashed 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. With this decision, the price of petrol will be reduced by Rs 9.5 per litre and of diesel by Rs 7 per litre.
It must be noted that the prices of petrol and diesel have remained steady for more than 40 days now. At present, the petrol in Delhi now costs Rs 105.41 a litre and diesel Rs 96.67 a litre.
Petrol price in Delhi will from Sunday cost Rs 95.91 a litre as against Rs 105.41 a litre currently while diesel will cost Rs 89.67 a litre as opposed to Rs 96.67 a litre now.
In the meantime, the Kerala government also announced cut in tax on petrol and diesel by Rs 2.41 and Rs 1.36 respectively. This was announced by Kerala Finance Minister KN Balagopal on Saturday.
New rates after reduction in central excise duty
Delhi: Petrol price will be Rs 95.91 per litre; diesel price will be Rs 89.67 per litre
Mumbai: In Mumbai, petrol price will be Rs 111.01 per litre and the diesel price will be Rs 97.77 per litre.
Chennai: Petrol price in Chennai will cost Rs 101.35 a litre as against Rs 110.85 currently while diesel will cost Rs 93.94 a litre as opposed to Rs 100.94 now.
Kolkata: In Kolkata, the petrol price from Sunday will come down to Rs 105.62 a litre from Rs 115.12. Diesel price in Kolkata will fall to Rs 92.83 a litre.
Here’s how you can check latest fuel price
Consumers can check the daily rate of petrol diesel through SMS (How to check diesel petrol price daily). The customers can get information by sending RSP to 9224992249 number and BPCL consumers by sending RSP to 9223112222 number. At the same time, the HPCL consumers can know the price by sending HPPrice to the number 9222201122.
This excise duty cuts along with Rs 5 cut on petrol and Rs 10 reduction on diesel effected from November 4, 2021, rolls back the Rs 13 per litre and Rs 16 per litre increase in taxes on petrol and diesel effected between March 2020 and May 2020 to avoid passing on to consumers the sharp fall in international oil prices at that time.
The excise duty hikes of 2020 had taken central taxes on petrol to their highest level of Rs 32.9 per ltire and that on diesel to Rs 31.8 a litre. After the latest excise cut, the incidence of central tax on petrol will come down to Rs 19.9 a litre and that on diesel to Rs 15.8 per litre.
“We are reducing the Central excise duty on Petrol by Rs 8 per litre and on Diesel by Rs 6 per litre. This will reduce the price of petrol by Rs 9.5 per litre and of Diesel by Rs 7 per litre,” Sitharaman tweeted.
She also urged all state governments to also cut local sales tax or VAT. “I wish to exhort all state governments, especially the states where reduction wasn’t done during the last round (November 2021), to also implement a similar cut and give relief to the common man,” she said.
Post November 2021 reduction in excise duty on petrol by Rs 5 per litre and that on diesel by Rs 10 a litre, 25 states and UTs had cut VAT to give further reprieve to consumers battered by record-high retail prices. However, states ruled by non-NDA parties like Maharashtra, Andhra Pradesh and Tamil Nadu had not reduced VAT.
