Petrol-Diesel Price Today: Fuel prices remain steady, checkout latest rates here

Speed News Desk 4 March 2022, 10:40 IST

Petrol-Diesel Price Today: Fuel prices remain steady, checkout latest rates here

Petrol and diesel prices remained stable in the country on Friday, 4 March.

In the national capital, fuel is comparatively cheaper than the rest of the cities as the state government had earlier decided to bring down the Value-Added Tax (VAT) on petrol, bringing down the price of the fuel in the city by approximately Rs 8 per litre.

At a meeting presided over by Chief Minister Arvind Kejriwal, it was decided that the VAT on petrol will be brought down from the current 30 per cent to 19.4 per cent, resulting in a cut of around Rs 8 per litre, officials said.

The petrol price after the VAT cut will drop from the current Rs 103 per litre to Rs 95 per litre, sources told PTI.

Earlier, the petrol price in Delhi was more as compared to the NCR cities in Uttar Pradesh and Haryana, where the state governments had announced a VAT cut after the Centre reduced the excise duty on fuel prices.

On the eve of Diwali, the centre declared an excise duty cut on fuels leading to a sharp decline in petrol and diesel prices across India. The government had cut the price of petrol by Rs 5 and that of diesel by Rs 10. Following this, many states, mostly ruled by National Democratic Alliance (NDA) and allies have also cut the Value Added Tax (VAT) on petrol and diesel prices.

Opposition-ruled Punjab and Rajasthan also followed the cue to announce the biggest reduction in petrol prices. Petrol price in Punjab was further brought down by as much as Rs 16.02 per litre and diesel by Rs 19.61 a litre as a result of the combined impact of the excise duty and VAT cut, as per price lists put out by state-owned fuel retailers. VAT on petrol price was cut by Rs 11.02 while that in diesel was cut by Rs 6.77 in the state. In Ladakh, diesel saw the most reduction as rates have come down by Rs 9.52 per litre. This is due to a cut in VAT on top of Rs 10 a litre fall in excise duty.

In Delhi, petrol rates Rs 95.41 a litre while the rate of diesel was Rs 86.67 per litre. In Mumbai, petrol can be bought at Rs 109.98 per litre and diesel costs Rs 94.14 for one litre. In Chennai, a litre of petrol is valued at Rs 101.40. Earlier, the price of a litre of diesel was Rs 91.43 per litre. Petrol in Kolkata costs Rs 104.67 per litre while diesel costs Rs 101.56 a litre.

Meanwhile, petrol can be bought at Rs 107.23 in Bhopal, which is a cut by Rs 6.27, diesel costs Rs 90.87 per litre.

Following are the prices of diesel and petrol:

1. Mumbai

Petrol - Rs 109.98 per litre
Diesel - Rs 94.14 per litre

2. Delhi

Petrol - Rs 95.41 per litre
Diesel - Rs 86.67 per litre

3. Chennai

Petrol - Rs 101.40 per litre
Diesel - Rs 91.43 per litre

4. Kolkata

Petrol - Rs 104.67 per litre
Diesel - Rs 89.79 per litre

5. Bhopal

Petrol - Rs 107.23 per litre
Diesel - Rs 90.87 per litre