RBI Issues Circular On Levying Unfair Interest Charges On Customers

Petrol prices have already crossed the Rs 100-mark in more than 20 states and union territories

Petrol and diesel prices remained static for the 29th straight day on Thursday. In Delhi, petrol is available for Rs 95.97 a litre after the Delhi government  on Wednesday decided to reduce the VAT on petrol, cutting down the price of the fuel around Rs 8. It was decided at the cabinet that the Value-Added Tax (VAT) will be cut down from the current 30% to 19.4%.

Diesel on the other hand is available for Rs 86.67 a litre. The Union government had announced a reduction in excise duty on petrol and diesel by Rs 5 and Rs 10, respectively, on November 3.

The Delhi government on Wednesday decided to reduce the VAT on petrol, bringing down the price of the fuel around Rs 8. It was decided at the cabinet that the Value-Added Tax (VAT) will be cut down from the current 30% to 19.4%. The prices of petrol will come down from Rs 103 per litre to Rs 95 per litre.

In Mumbai, a litre of petrol will cost Rs 109.98 and diesel Rs 94.14, fuel prices are highest in Mumbai among all metro cities. In Kolkata, a litre of petrol and diesel prices will cost Rs 104.67 and Rs 89.97, respectively.

Petrol price in Chennai will cost Rs 101.40 while diesel prices will cost Rs 91.43. In Bengaluru, a litre of petrol will cost Rs 100.58 and diesel Rs 85.01. In Hyderabad, a litre of petrol and diesel will cost Rs 108.20 and Rs 94.62, respectively.

In Vijayawada, petrol price costs Rs 109.91, while diesel price is being retailed at Rs 96.03 respectively. Currently, Vijayawada has the highest fuel prices among all south Indian cities. Petrol and diesel prices in Visakhapatnam were being retailed at Rs 109.05 and Rs 95.18, respectively.

The Chandigarh administration had announced a reduction of Rs 7 per litre in Value-Added Tax (VAT) on fuels making them cheaper in the union territory. This came after the Centre slashed excise duty on petrol and diesel. An official statement said that, “after the Centre cut levy on petrol and diesel, Chandigarh Administration has reduced VAT by Rs 7 on petrol and diesel with effect from midnight of November 4”.

Petrol prices have already crossed the Rs 100-mark in more than 20 states and union territories – Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Jammu & Kashmir, Odisha, Manipur, Ladakh, Bihar, Punjab and others. Petrol and diesel prices get revised in India every day at 6 am.

Fuel prices across Indian cities