Petrol, Diesel Price Drop: Fuel Prices Cut to Below Rs 100 in Some Cities. Check Rates

MsLawn

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posted on 3 years ago — updated on 1 second ago

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Petrol, diesel price today, November 20: Petrol and diesel price remained unchanged today. Petrol Price at Rs 103.97 in Delhi, Rs 104.67 in Kolkata

Petrol, diesel price today: Petrol and diesel prices remained unchanged for the 19th straight day on November 22, Monday. Petrol and diesel rates have remained the same ever since the central government slashed excise duty on petrol and diesel. The prices of the auto fuel were reduced by Rs 5 and Rs 10. On the top of it, several BJP and NDA-ruled states also announced a discount on Value Added Tax or VAT. Petrol, diesel price had seen their lifetime high before the Centre and the states announced excise cuts. So far, 24 states have announced VAT cuts on fuel prices, while 11 states — all Opposition-ruled — have not taken any similar decision.

The states that have cut the Value Added Tax are mostly BJP or NDA-ruled states. Punjab and Rajasthan are the only two Congress-ruled states to have reduced the taxes from their side. Some Congress-ruled states, however, had not cut VAT and had demanded further reduction in central excise duty.

The Tamil Nadu government on Friday ruled out on further reduction of the petrol and diesel prices by slashing VATs and said that the Centre should further reduce the ‘exorbitant’ excise duty on fuels. “The simple and fair approach by the Centre would be to reduce the levy of taxes on petrol and diesel to the rates that were prevailing in 2014. Such a move will automatically reduce States’ taxation as almost all states follow ad-valorem taxation”, state minister for finance and human resource management Palanivel Thiaga Rajan said in a detailed statement.

Other states states that have so far not lowered VAT include Congress and its allies ruled Chhattisgarh, Maharashtra, Jharkhand. AAP-ruled Delhi, TMC-governed West Bengal, Left-ruled Kerala, TRS-led Telangana and YSR Congress-ruled Andhra Pradesh have also not cut VAT in their areas.

Petrol and diesel prices vary from state to state based on factors like international crude oil prices, VAT as well as freight charges. The oil marketing companies update the price of petrol and diesel everyday at 6 am.

Crude oil fell to seven-week lows on Monday, extending declines after the previous session’s slide, said a report by Reuters. Brent lost 57 cents, or 0.72 per cent, to $78.32 a barrel as of 0206 GMT and U.S. West Texas Intermediate (WTI) crude futures were down 39 cents, or 0.51 per cent, at $75.55 a barrel. WTI and Brent prices hit their lowest since Oct. 1 earlier in the session. They slumped around 3 per cent on Friday.

Following are the prices of diesel and petrol across some major cities in the country:

Petrol price in Mumbai: Rs 109.98 per litre

Diesel price in Mumbai: Rs 94.14 per litre

Petrol price in Delhi: Rs 103.97 per litre

Diesel price in Delhi: Rs 86.67 per litre

Petrol price in Chennai: Rs 101.40 per litre

Diesel price in Chennai: Rs 91.43 per litre

Petrol price in Kolkata: Rs 104.67 per litre

Diesel price in Kolkata: Rs 89.79 per litre

Petrol price in Bhopal: Rs 107.23 per litre

Diesel price in Bhopal: Rs 90.87 per litre

Petrol price in Hyderabad: Rs 108.20 per litre