Petrol, Diesel prices fall after Center cuts excise duty

New Delhi: Petrol and diesel prices remained unchanged for more than a month on Wednesday, December 29. According to the latest price notification by state-owned fuel retailers, petrol and diesel prices remained unchanged on Wednesday even as the central government cut the highest excise duty. To give relief to consumers troubled by the skyrocketing fuel prices, the government had cut the price of petrol by Rs 5 and that of diesel by Rs 10. Following this decision, several states, mostly governed by the National Democratic Alliance (NDA) and allies, have also cut Value Added Tax (VAT) on both major auto fuels.

Similarly, the Delhi state government was the latest in the list to reduce VAT on petrol from 30 per cent to 19.40 per cent with effect from December 1, bringing down the price by almost Rs 8 per liter to Rs 95.41 per liter in the national capital. The rate remained the same on December 29 as well, similarly in Delhi, the price of diesel remains the same at Rs 86.67 per liter.

Petrol in Mumbai costs Rs 109.98 per liter, while diesel costs Rs 94.14 per litre. On May 29, Mumbai became the first metro in the country, where petrol rose by Rs 100 per liter.

The cost of a liter of petrol in Kolkata is Rs 104.67. On Wednesday, the price of a liter of diesel was Rs 101.56 per litre. Petrol in Chennai costs Rs 101.67 per liter while diesel costs Rs 91.43 per liter.

Meanwhile, crude oil benchmarks – US crude, Brent traded at their highest level since late November. According to a Reuters report, Brent crude futures were up 23 cents, or 0.3 per cent, at $79.17 a barrel by 0101 GMT. Whereas, US West Texas Intermediate (WTI) crude rose 21 cents, or 0.3 per cent, to $76.19 a barrel, for the sixth consecutive session.

Check Petrol and Diesel Rates in your City:

Petrol – Rs 109.98 per liter
Diesel – Rs 94.14 per liter

Petrol – Rs 103.97 per liter
Diesel – Rs 86.67 per liter

Petrol – Rs 101.40 per liter
Diesel – Rs 91.43 per liter

Petrol – Rs 104.67 per liter
Diesel – Rs 89.79 per liter

Petrol – Rs 107.23 per liter
Diesel – Rs 90.87 per liter

Petrol – Rs 108.20 per liter
Diesel – Rs 94.62 per liter

Petrol – Rs 100.58 per liter
Diesel – Rs 85.01 per liter

Petrol – Rs 94.58 per liter
Diesel – Rs 81.29 per liter

Petrol – Rs 95.28 per liter
Diesel – Rs 86.80 per liter

Petrol – Rs 95.35 per liter
Diesel – Rs 89.33 per liter

Petrol – Rs 106.36 per liter
Diesel – Rs 93.47 per liter