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Petrol, Diesel Price Drop: Tax on Petrol Cut to 50%. How Much you Pay for Fuel Today

Petrol and diesel prices across the country remained unchanged for the eighth straight day on Thursday, November 10. The price of auto fuel reduced after the Union government had announced to cut excise duty on petrol and diesel on the eve of Diwali. This move had provided a much-needed relief to common man. The central government had cut excise duty on the fuels, reducing the price of petrol by Rs 5 and that of diesel by Rs 10. Following this, several states, mostly ruled by the National Democratic Alliance (NDA), Bharatiya Janata Party (BJP) and allies, have also reduced the Value Added Tax (VAT)  applied on fuel. With two back to back rate cuts, petrol price has come down under Rs 100-per-litre mark in most part of the country.

The price of petrol and diesel has been kept at a halt ever since the Centre imposed the excise duty cut. After the much-awaited price cut, petrol price reduced to Rs 103.97 in Delhi. In Mumbai, a litre of petrol was available at Rs 109.98 per litre, highest among the metro cities. A litre of petrol would cost you  Rs 104.67 in West Bengal while the auto fuel was price at Rs 101.40 in Chennai. Petrol was priced at Rs 107.23 in Bhopal.

Diesel price also remained constant on Thursday, November 11. A litre of diesel would cost you Rs 86.67 in the national capital. Delhi has not announced any VAT cut. Diesel in the financial capital, was retailing at Rs 94.14 for one litre. In West Bengal, you had to shell out Rs 89.79 for a litre of diesel. In Chennai diesel price stood at Rs 91.43 per litre while a litre of diesel would cost Rs 90.87 in Madhya Pradesh’s Bhopal.

In the international market, oil prices were steady on Thursday after falling in the previous session on concerns rising inflation in the United States. On Wednesday, Brent crude futures fell by 2.5 per cent and West Texas Intermediate (WTI) futures dropped by 3.3 per cent after reports that US inflation had increased at the fastest rate in 30 years. The report pushed the dollar higher and crude inventories in the US, the world’s biggest oil consumer, rose after the government released some strategic reserves. Brent crude futures gained 18 cents, or 0.2 per cent, to $82.82 a barrel at 0156 GMT, while WTI futures rose 17 cents, or 0.2 per cent, to $81.51, according to Reuters.

Following are the prices of diesel and petrol across some 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

Diesel price in Hyderabad: Rs 94.62 per litre

Petrol price in Bengaluru: Rs 100.58 per litre

Diesel price in Bengaluru: Rs 85.01 per litre

Petrol price in Chandigarh: Rs 100.12 per litre

Diesel price in Chandigarh: Rs 86.46 per litre

Petrol price in Guwahati: Rs 94.58 per litre

Diesel price in Guwahati: Rs 81.29 per litre

Petrol price in Lucknow: Rs 95.28 per litre

Diesel price in Lucknow: Rs 86.80 per litre

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