Petrol, Diesel Rates Drop After Excise Duty Cut; Check Fuel Rates Here
Petrol, diesel price today: Petrol and diesel prices remained unchanged for the 18th straight day on November 20, Saturday. 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 (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.
According to a report, the gross incidence of tax on petrol came down by 50 per cent, while that of diesel reduced to 40 per cent, following the duty cut.
The slashing of fuel rates has led to BJP and its partner ruled states witnessing steeper reductions in petrol and diesel prices in comparison to Maharashtra, Delhi, West Bengal and other states that are governed by other political parties, according to a price chart of different locations prepared by state-owned oil firms.
On Saturday, petrol price in Delhi remained at Rs 103.97 per litre. The price of diesel in the national capital came down below the Rs 100 mark and was retailing at Rs 94.14 for one litre.
The price of petrol in Kolkata stood at Rs 104.67 per litre for the sixth consecutive day, according to a notification by state-run oil marketing companies. Diesel rates in the West Bengal capital remained at Rs 89.79 per litre.
In Mumbai, petrol was retailing at Rs 109.98 per litre on the day. Diesel price in the financial capital was retailing at Rs 94.14 for one litre after the price cut, and was unchanged too.
In Chennai, petrol price was at Rs 101.40 for one litre while the price of that amount of diesel stood at Rs 91.43. Petrol price in Bhopal was at Rs 107.23, while diesel price in the Madhya Pradesh city was at Rs 90.87 per litre.
Like everyday, petrol and diesel rates on Friday were notified by oil marketing companies such as Hindustan Petroleum, Indian Oil, and Bharat Petroleum. The new rates were notified at 6 am as usual.
States and cities have different fuel prices, this is because of the value added taxes or VAT, local and freight charges, which vary from one place to another. The price of petrol and diesel also depends on international crude oil prices across the global markets, and the rupee-dollar exchange rates.
Among the four metro cities, petrol is still the costliest in Mumbai, while Mohali topped the chart in those terms among all cities in India.
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