Business

Petrol, Diesel Prices Today, November 07: Fuel rates remain unchanged–check prices in your city

By Jessica

New Delhi: After the Centre lowered excise tax on fuel to bring retail rates down from record highs, petrol and diesel prices remained steady for the third day in a row across metros. Petrol in Delhi continues to cost Rs 103.97, while diesel costs Rs 86.67, with no price changes.

On the eve of Diwali, the government reduced excise duty on petrol and diesel by Rs 5 and Rs 10, respectively. At least 22 states and union territories responded by lowering their VAT rates in various degrees.

Following this, on November 4, petrol prices across the country were reduced by Rs 5.7 to Rs 6.35 per litre, and diesel prices by Rs 11.16 to Rs 12.88, as oil companies passed on a record fall in excise duty rates to customers.

Similarly, petrol and diesel rates in Mumbai stayed unchanged at Rs 109.98 and Rs 94.14 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.

The excise tax drop was the largest reduction in excise duty in history. It reverses a portion of the Rs 13 and Rs 16 per litre rise in fuel and diesel taxes implemented between March and May 2020 in order to avoid passing on to customers the dramatic drop in world oil prices at the start of the COVID-19 pandemic.

That hike in excise duty had taken central taxes on petrol to their highest level of Rs 32.9 per litre and that on diesel to Rs 31.8 a litre.

The Congress on November 6 demanded the withdrawal of all taxes on petrol and diesel imposed during the past year.

Congress spokesperson Pawan Khera said the government, in the name of Covid, had increased the price of petrol by Rs 13 a litre and diesel by Rs 16 a litre by way of central taxes, and the same should be withdrawn immediately as GST collections were record high.

Asked about reduction of VAT rates on fuel in Congress-ruled states, Khera said a discussion was on and a decision would soon be taken.

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googletag.pubads().setTargeting('category', ["article","Economy","Petrol Prices","Diesel Prices","Petrol","Diesel","Fuel Rates"]); googletag.pubads().enableLazyLoad({ fetchMarginPercent: 50, renderMarginPercent: 50, mobileScaling: 2.0 }); googletag.pubads().disableInitialLoad(); googletag.pubads().enableAsyncRendering(); googletag.pubads().set('page_url','https://zeenews.india.com/'); googletag.pubads().collapseEmptyDivs(); googletag.enableServices(); // OpenWrap code START here if(typeof PWT.requestBids === 'function'){ PWT.requestBids( PWT.generateConfForGPT(googletag.pubads().getSlots()), function(adUnitsArray) { PWT.addKeyValuePairsToGPTSlots(adUnitsArray); PWT.ow_BidsReceived = true; initAdserver(false); } ); } // No need to handle "else" part as we have A9 wrapper on page // OpenWrap code END here var FAILSAFE_TIMEOUT = 1000; // this timeout should be more than OpenWrap and A9 timeout setTimeout(function() { initAdserver(true); // calling this function with forced mode set to true so that GPT API is always executed }, FAILSAFE_TIMEOUT); }); googletag.cmd.push(function() { googletag.display('div-article-rhs-atf-ad'); }); googletag.cmd.push(function() { googletag.display('div-gpt-ad-1504525832454-0'); }); googletag.cmd.push(function() { googletag.display('div-gpt-ad-1504525832454-2'); }); googletag.cmd.push(function() { googletag.display('div-gpt-ad-1504526235866-6'); }); if(inad1){ googletag.cmd.push(function() { googletag.display('div-gpt-ad-AS-Inarticle-1'); }); } if(inad2){ googletag.cmd.push(function() { googletag.display('div-gpt-ad-AS-Inarticle-2'); }); }

} on_load_google_ad(PWT);

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