Fuel prices remain unchanged

The fuel prices had come down sharply on Nov 4, 2021, after the Centre announced reduction in excise duties on petrol and diesel by Rs five and Rs ten respectively.

Petrol became cheaper by about Rs eight in Delhi on December 2, 2021, after the state government decided to reduce Value Added Tax (VAT) on it. However, prices of diesel remained the same.

In other metros, the prices of petrol and diesel remained unchanged for the 49th day in a row.

In the national capital a litre of petrol costs Rs 95.41, Rs 104.67 in Kolkata, Rs 109.98 in Mumbai and Rs 101.40 in Chennai.

Similarly, a litre of diesel is available at Rs 86.67 in New Delhi, Rs 89.79 in Kolkata, Rs 94.14 in Mumbai and Rs 91.43 in Chennai.

After the Centre cut the excise duties, most state governments and union territories too had reduced Value Added Tax (VAT) on petrol and diesel, providing much relief to the common man.

Prices of diesel and petrol were rising across the country, breaching all previous records but the Centre's announcement to cut the excise duties gave relief to people using the two motor fuels. The rise in the fuel prices in the domestic market was mainly attributed to global upsurge in crude oil prices.