New Delhi: Fuel prices were kept unchanged on Monday. This is the 4th straight day when the fuel prices remained steady after the Centre lowered excise tax on fuel to bring retail rates down from record highs
The price of petrol in Delhi stands at Rs 103.97 per litre while diesel is at Rs 86.67 per litre. In Kolkata, the price of petrol is presently Rs 104.67 per litre, while diesel is Rs 89.79 per litre. A litre of petrol was sold in Chennai for the same price of Rs 101.40. The price of diesel remained unchanged at Rs 91.43 a litre. Similarly, petrol and diesel rates in Mumbai stayed unchanged at Rs 109.98 and Rs 94.14 per litre.
The total incidence of taxes on petrol has come down to 50 per cent and that on diesel to 40 per cent following a reduction in excise duty by the central government, and by a slightly higher proportion in states that have also cut local sales tax or VAT on the fuel.
On November 1, prior to the duty cuts, central excise of Rs 32.90 a litre and VAT of 30 per cent in Delhi made up for 54 per cent of the retail selling price of diesel, according to price build-up of the fuel available from state-owned fuel retailers.
Two dozen states and UTs have matched the central government’s excise cuts with a VAT reduction. And, in those states, the percentage of taxes in retail price will be marginally lower. Delhi has not yet lowered the VAT.
The states that extended additional VAT benefits include Karnataka, Puducherry, Mizoram, Arunachal Pradesh, Manipur, Nagaland, Tripura, Assam, Sikkim, Bihar and Madhya Pradesh.
After duty changes, the costliest petrol is sold in Rajasthan at Rs 111.10 per litre (Jaipur), followed by Mumbai (Rs 109.98) and Andhra Pradesh (Rs 109.05). The fuel is below Rs 100-a-litre-mark in most BJP-ruled states baring Karnataka (Rs 100.58), Bihar (Rs 105.90), Madhya Pradesh (Rs 107.23) and Ladakh (Rs 102.99).
With PTI Inputs