Petrol and diesel prices remained unchanged for more than 100 days on February 28, according to state-owned fuel retailers.
The last rate cut was in 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 per litre. Diesel price remains unchanged in the national capital at Rs 86.67 a litre.
Nagaland had decreased the tax on petrol from 29.80 to 25 percent per litre, resulting in a saving of Rs 2.22.
Diesel tax rates were also reduced from Rs 11.08 to Rs 10.51 per litre. Other states such as West Bengal, Rajasthan, Assam, and Meghalaya had also slashed their petrol and diesel rates.
Petrol & Diesel Rates May 15, 2022
There has been a price reshuffle in cities like Noida, Gurugram, Jaipur, Patna, and Bhubaneswar, News18 reported.
– Gurugram: Petrol Rs 95.81 and diesel Rs 87.02 per litre
– Noida: Petrol Rs 95.51 and diesel Rs 87.01 per litre
– Jaipur: Petrol Rs 106.64 and diesel Rs 90.32 per litre
– Patna: Petrol Rs 105.90 and diesel Rs 91.09 per litre
– Bhubaneswar: Petrol Rs 101.70 and diesel Rs 91.52 per litre
On November 3, the government went 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 provide relief to consumers.
In Mumbai, a cut on November 4 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 remained at Rs 104.67 and Rs 89.79. Petrol sold at Rs 101.40 and diesel at Rs 91.43 in Chennai.
The states that have, so far, not lowered VAT are mostly opposition ruled ones including Maharashtra, Jharkhand, and Tamil Nadu. TMC-governed West Bengal, Kerala, TRS-led Telangana, and YSR Congress-ruled Andhra Pradesh have also not cut VAT.Congress-ruled Punjab has seen the biggest drop in petrol prices after it slashed VAT, while the Union Territory of Ladakh has seen the biggest drop in diesel rates.