Petrol and diesel prices remained unchanged today, i.e. on Saturday, November 6 after a sharp fall following double tax cuts across most parts of the country. The government had recently announced reduction in excise duty on the price of petrol and diesel in India. Subsequently, several states, mostly ruled by the BJP, joined forces to announce exemptions on Value Added Tax or VAT. Petrol, diesel prices had seen their lifetime highs before the announcement of excise duty cuts by the Center and states. However, after facing criticism for shocking fuel rates, the Center had decided to cut excise duty on petrol by Rs 5 per liter and on diesel by Rs 10 per liter. The additional move by the states also helped bring down petrol and diesel rates, which have risen steadily in recent months.
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