OIL & GAS

Diesel to get cheaper in Delhi by over ₹8 per litre

Diesel in Delhi will get cheaper as the Delhi Cabinet today decided to reduce VAT or value-added tax on the fuel to 16.75% from 30%. This will reduce price of diesel in Delhi from ₹82 to ₹73.64 or by ₹8.36 per litre, said Delhi chief minister Arvind Kejriwal.

The Delhi government had in May hiked value-added tax (VAT) on the auto fuels. The Centre levies excise duty on the two auto fuels. It had also hiked excise duty sharply in May this year.

Currently, diesel retails at ₹81.94 per litre in Delhi while petrol at ₹80.43.

In India, the price of petrol and diesel you pay at the pump is dependent on international product prices and other market conditions. Petrol and diesel do not come under the purview of goods and services tax (GST).

Source
Livemint
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