New Delhi: Petrol and diesel prices remained stable on December 5 after the Center slashed excise duty to bring retail rates below record highs, as announced by state-owned fuel retailers.
Three days after the government reduced Value Added Tax (VAT) from 30% to 19.4%, petrol prices in Delhi remained unchanged at Rs 95.41 per litre, resulting in a reduction of Rs 8 per litre. Diesel price in Delhi remained stable at Rs 86.67 per litre.
On November 3, the government cut excise duty on petrol by Rs 5 per liter and on diesel by Rs 10 per liter to provide comfort to customers hit by record-high retail gasoline costs.
In other metro cities, the price remained the same. Petrol price in Mumbai fell to Rs 109.98 per liter on November 4. The price remained unchanged on December 4. Diesel price remained stable at Rs 94.14 per liter during the day.
Petrol and diesel prices in Kolkata remained stable at Rs 104.67 per liter and Rs 89.79 per liter respectively.
In Chennai, one liter of petrol was sold for the same price of Rs 101.40. Diesel price also remained stable at Rs 91.43 per litre.
The reduction in excise duty was the biggest reduction in excise duty in history. Apart from reducing the excise duty, the central government urged the states to reduce the Value Added Tax (VAT) on gasoline and diesel to provide support to the customers.
As a result, several states and union territories have reduced VAT to provide additional relief to consumers hit by record-high retail prices. Ladakh, Karnataka, Puducherry, Jammu and Kashmir, Sikkim, Mizoram, Delhi, Himachal Pradesh, Daman and Diu, Dadra and Nagar Haveli, Chandigarh, Chhattisgarh, Assam, Madhya Pradesh, Tripura, Gujarat, Nagaland, Punjab, Goa, Meghalaya, Odisha , Rajasthan, Rajasthan, Arunachal Pradesh, Manipur, Andaman and Nicobar.
Congress-ruled Maharashtra, Jharkhand and Tamil Nadu are among the states that have not yet deducted their VAT. West Bengal, which is administered by the TMC, Kerala, which is ruled by the Left, Telangana, which is governed by the TRS, and Andhra Pradesh, which is governed by the YSR Congress, have all refused to reduce VAT.
Congress-ruled Punjab saw the biggest drop in petrol prices in the country as a result of the most significant reduction in local sales tax or VAT, while the union territory of Ladakh saw the biggest reduction in diesel rates for the same reason.
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//$(".main-rhs2416253").theiaStickySidebar();
var prev_content_height = $(content_selector).height();
//$(function() {
var layout = $(content_selector);
var st = 0;
///});
}
}
});
/*}
};*/
})(jQuery);
,