Petrol and diesel prices remained unchanged on January 12, according to a price notification by state-owned fuel retailers. The rates have been static thanks to the highest-ever excise duty cut by the Centre to bring them down from record highs.
On November 3, the government will tax petrol at Rs 5 per litre and diesel at Rs 10 per litre. Many states and federal territories have since reduced their local sales tax or value-added tax (VAT) to further ease consumers.
The latest on the list is Delhi, which reduced the value-added tax on petrol from 30% to 19.4% from midnight on December 1, reducing the price of petrol in the city by about 8 rupees per litre to 95.41 rupees. Prices on January 12 remain unchanged. Diesel prices in Delhi also remained unchanged at Rs 86.67 per litre.
In Mumbai, the November 4 drop in oil prices brought petrol prices down to Rs 109.98 a litre, which remained unchanged. Diesel prices were also kept at Rs 94.14 per litre.
omplete News Source : Money Control
