Petrol price cut by 21 paise per litre; diesel to cost 15 paise less
08 Jun 2018
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Petrol and diesel prices saw their biggest reduction in 10 days today after days of nominal cuts beginning with 1 paise per litre, bringing some relief to harassed consumers.
State-run oil marketing companies today reduced the price of petrol by 21 paisa per litre and that of diesel by 15 paisa per litre.
As per the new price chart, petrol prices in Mumbai stand at Rs85.45 a litre while in Delhi it is Rs77.63, in Kolkata Rs80.28 and in Chennai Rs80.59 per litre.
Diesel prices in Mumbai stand at Rs73.17 a litre while in Delhi it is Rs68.73 a litre, in Kolkata Rs71.28 a litre and in Chennai Rs72.56 a litre.
The revised rates published by Indian Oil Corporation on it came into effect from 6:00 a.m. today.
The reduction comes after 16 consecutive day of price hikes, following the Karnataka polls that saw petrol prices zoom up by more than Rs3.7 in the major metros.
Petroleum minister Dharmendra Pradhan had voiced optimism that petroleum products would be brought under the GST, which will help in checking volatility in fuel prices. “In the long run, petroleum products are bound to be included within the ambit of the GST regime … It is only a matter of time. It will immensely help in containing prices of petrol and diesel,” Pradhan told reporters in Bhubaneswar.
At present, the central government levies a duty of Rs19.48 a litre on petrol and Rs15.33 per litre on diesel, while states collect sales tax and VAT which ranges from 26 per cent to over 47 per cent of the fuel cost that consumers pay.
Pradhan had asked state governments to not reap a bonanza from rising crude oil prices, and tax fuel within a “reasonable and responsible band.”
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