Petrol, diesel prices come down after excise duty, VAT cut; Check latest rates

New Delhi: Following a decline in prices last week after the central government announced a cut in excise duty, petrol and diesel prices stayed steady on Sunday. In Delhi, petrol cost Rs 96.72 per litre and in Mumbai, it cost Rs 111.35 per litre, while diesel cost Rs 89.62 per litre in Delhi and Rs 97.28 per litre in Mumbai.

After the excise tax cut, the price of petrol in Kolkata has dropped to Rs 106.03 per litre, while the price of diesel has dropped to Rs 92.76 per litre. On Sunday, petrol cost Rs 102.63 per litre in Chennai, while diesel cost Rs 94.24 per litre.

In other regions of the country, the price of petrol was Rs 108.65 per litre in Bhopal on Sunday, and the price of diesel was Rs 93.90 per litre. Petrol was selling for Rs 109.66 per litre in Hyderabad, while diesel was selling at Rs 97.82 per litre. Petrol cost Rs 101.94 per litre in Bengaluru, while diesel cost Rs 87.89 per litre.

Petrol was priced at Rs 96.01 per litre in Guwahati, while diesel was priced at Rs 83.94 per litre. Petrol was selling for Rs 96.57 per litre in Lucknow, and diesel was selling for Rs 89.76 per litre. Petrol was priced at Rs 96.63 per litre in Gandhinagar, while diesel was priced at Rs 92.38 per litre. Petrol cost Rs 107.71 per litre and diesel cost Rs 96.52 per litre in Thiruvananthapuram.

On May 21, the central government reduced fuel excise duty by Rs 8 per litre and diesel excise duty by Rs 6 per litre. After taking into account the impact on other levies, the cut was projected to result in a reduction of Rs 9.5 per litre in petrol and Rs 7 per litre in diesel. Following this, numerous state governments, including Kerala, Maharashtra, and Rajasthan, reduced VAT on petrol and diesel, lowering rates in those jurisdictions even further.

On May 21, the central government decreased the excise duty on petrol and diesel by Rs 8 per litre and Rs 6 per litre, respectively. The cut was expected to result in a reduction of Rs 9.5 per litre in petrol and Rs 7 per litre in diesel after taking into account the impact on other levies. Following this, many state governments, including Kerala, Maharashtra, and Rajasthan, decreased VAT on gasoline and diesel, further lowering costs in those states.