New Delhi: Petrol and diesel prices on Thursday remained unchanged for the 22nd day after the Center reduced excise duty on fuel to bring down retail rates from record highs.
Petrol in Delhi costs Rs 103.97 per liter while diesel costs Rs 86.67 per liter. Petrol currently costs Rs 104.67 per liter in Kolkata, while diesel costs Rs 89.79 per litre. In Chennai, one liter of petrol was sold for the same price of Rs 101.40. Diesel price remained unchanged at Rs 91.43 per litre. Similarly, petrol and diesel rates in Mumbai remained unchanged at Rs 109.98 and Rs 94.14 per litre.
The reduction in excise duty by the central government has brought the overall incidence of taxes on petrol to 50 per cent and diesel to 40 per cent, and a slightly higher proportion in states that have also cut local sales tax or VAT. on fuel.
As on November 1, before the duty cut, Delhi had central excise duty of Rs 32.90 per liter and 30 per cent VAT for 54 per cent of the retail sale price of diesel as per the price build-up of the fuel available. State owned fuel retailer.
Two dozen states and union territories have matched the central government’s excise duty reduction with the reduction in VAT. And, in those states, the percentage of taxes in the retail price would be marginally lower. Delhi has not reduced VAT yet.
The states offering additional VAT benefits include Karnataka, Puducherry, Mizoram, Arunachal Pradesh, Manipur, Nagaland, Tripura, Assam, Sikkim, Bihar and Madhya Pradesh.
After the change in duty, the most expensive petrol is being sold in Rajasthan at Rs 111.10 per liter (Jaipur), followed by Mumbai (Rs 109.98) and Andhra Pradesh (Rs 109.05). Fuel is below Rs 100 per liter in most BJP-ruled states except Karnataka (Rs 100.58), Bihar (Rs 105.90), Madhya Pradesh (Rs 107.23) and Ladakh (Rs 102.99).
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