Fuel prices remain unchanged for the 27th day in a row on Wednesday but earlier on November 4, the Center had slashed excise duty on fuel.
Some states, mostly the non-BJP- ruled ones, are yet to undertake any reduction in VAT on motor fuels but over India, the fuel prices had fallen down sharply on November 4, 2021, after the Centre announced a reduction in excise duties on petrol and diesel by Rs 5 and Rs 10 respectively.
In Delhi, the national capital, a liter of petrol currently costs Rs 103.97, Rs 104.67 in Kolkata, Rs 109.98 in Mumbai and Rs 101.40 in Chennai. Similarly, a litre of diesel is currently at Rs 86.67 in New Delhi, Rs 89.79 in Kolkata, Rs 94.14 in Mumbai and Rs 91.43 in Chennai.
After the Center reduced the excise duties, most state governments and union territories too reduced Value Added Tax (VAT) on petrol and diesel, providing much relief to the common man. Some states, mostly the non-BJP- ruled ones, are yet to undertake any reduction in VAT on motor fuels.
However, Punjab and Rajasthan have reduced the taxes from their side. Prices of diesel and petrol were rising across the country, breaching all previous records but the Centre’s announcement to cut the excise duties gave a big relief to people. The rise in the fuel prices in the domestic market was mainly attributed to the global boom in crude oil prices.