petrol, diesel price today: Petrol and diesel prices on Friday, November 19, remained constant. This was the 16th straight day that the prices of petrol and diesel were stable. The petrol, diesel price was witnessing a record high before they were cut down sharply on the eve of Diwali. Auto fuel price dropped by Rs 5 and Rs 10 after the Centre took a decision of slashing of the excise duty on them. This move came amid the government receiving flak after petrol, diesel prices saw a record high, and went over Rs 100 in most places. States also rushed to take cue of the decision and reduced Value Added Tax (VAT) on their part amid skyrocketing price of petrol and diesel in India, which had become a cause of worry for the common man. With this, petrol price has come down under Rs 100 in most of the states in India.
With the Centre’s tax reduction, petrol price was cut to at Rs 103.97 in the national capital of Delhi and remained unchanged on Wednesday. Petrol price in Mumbai stood at Rs 109.98 per litre on the day, the highest among the metropolitan city. In Kolkata, price of one litre of petrol on Wednesday stood at Rs 104.67. In Chennai, petrol price was at Rs 101.40 for one litre on Wednesday.
A litre of diesel cost Rs 86.67 on the day. The Delhi government has not announced any VAT cut. Diesel price in the financial capital was retailing at Rs 94.14 for one litre after the price cut, and was unchanged too. The price of one litre of diesel was fixed at Rs 89.79 in Kolkata. In Chennai, diesel price stood at Rs 91.43 per litre while a litre of diesel would cost Rs 90.87 in Madhya Pradesh’s Bhopal.
The states that have cut the Value Added Tax are mostly BJP or NDA-ruled state. Punjab and Rajasthan are the only two Congress-ruled states to have reduced the taxes from their side. Some Congress-ruled states, however, had not cut VAT and had demanded further reduction in central excise duty.
States that have so far not lowered VAT include Congress and its allies ruled Chhattisgarh, Maharashtra, Jharkhand and Tamil Nadu. AAP-ruled Delhi, TMC-governed West Bengal, Left-ruled Kerala, TRS-led Telangana and YSR Congress-ruled Andhra Pradesh have also not cut VAT in their areas.
Petrol and diesel prices vary from state to state based on factors like international crude oil prices, VAT and freight charges. The oil marketing companies update the price of petrol and diesel everyday at 6 am.
According to a report by Reuters, global crude oil prices steadied on Friday as investors paused for breath following a day of wild swings. Brent crude was up 28 cents or 0.3 per cent at $81.52 a barrel by 0145 GMT, after falling to a six-week low on Thursday before rebounding to close 1.2 per cent higher.