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Fuel prices on February 27: Petrol, diesel prices in Mumbai, Delhi and other cities

On November 3, the Centre went for the deepest excise duty cut ever to cool prices from record highs, reducing the duty on petrol and diesel by Rs 5 and Rs 10 respectively

February 27, 2022 / 08:54 AM IST
In Kolkata, petrol and diesel prices remained at Rs 104.67 per litre and Rs 89.79 per litre, respectively. (Representative image)

In Kolkata, petrol and diesel prices remained at Rs 104.67 per litre and Rs 89.79 per litre, respectively. (Representative image)

Petrol and diesel prices remained unchanged on February 27 for 115 days now, a notification issued by state-owned fuel retailers showed.

Prices have been frozen in the past but the current pause is the longest since daily fuel price revision was adopted in June 2017.

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Domestically, the last rate cut was by Delhi when it reduced the local sales tax, or the value-added tax (VAT), on petrol from 30 to 19.4 percent from December 1 midnight, bringing down the price by around Rs 8 to Rs 95.41 a litre. Diesel price remains unchanged in the national capital at Rs 86.67 a litre.

On November 3, the Centre had gone for the deepest excise duty cut ever to cool retail prices from record highs, reducing the duty on petrol by Rs 5 and on diesel by Rs 10. Many states and Union Territories followed the Centre's lead to give further relief to consumers.

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Petrol & Diesel Rates Yesterday

Monday, 23rd May, 2022

Petrol Rate in Mumbai Yesterday

  • Current Petrol Price Per Litre
    111

Monday, 23rd May, 2022

Diesel Rate in Mumbai Yesterday

  • Current Petrol Price Per Litre
    97
Show

In Mumbai, a November 4 cut reduced the price of petrol to Rs 109.98 a litre, which remains unchanged. Diesel is at Rs 94.14 a litre.

In Kolkata, petrol and diesel prices remain at Rs 104.67 and Rs 89.79. Petrol is at Rs 101.40 and diesel at Rs 91.43 in Chennai.

The states and Union Territories that cut VAT after the Centre reduced excise duty include Ladakh, Jammu and Kashmir, Himachal Pradesh, Delhi, Sikkim, Mizoram, Daman and Diu, Karnataka and Puducherry.

States that have so far not lowered VAT include largely opposition ruled regions including Maharashtra, Jharkhand and Tamil Nadu. TMC-governed West Bengal, Left-ruled Kerala, TRS-led Telangana and YSR Congress-ruled Andhra Pradesh have also not cut VAT.

The Congress-ruled Punjab, which votes for the new assembly on February 20, has seen the biggest drop in petrol prices after it slashed VAT the most. The Union Territory of Ladakh has seen the biggest drop in diesel rates.



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Moneycontrol News
first published: Feb 27, 2022 08:54 am
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