Petrol Price Cut by Rs 5, Diesel by Rs 3 in Mumbai as VAT Reduced in Maharashtra; Fuel Rates Today

Fuel prices have been reduced in Maharashtra, starting from Friday. Petrol became cheaper by Rs 5 per litre while diesel price was cut by Rs 3 per litre. To provide relief to common man, the newly formed government of Eknath Shinde had decided to cut the value added tax (VAT) on petrol and diesel in Maharashtra on Thursday. This decision would lead to a financial burden of Rs 6,000 crore on the state, chief minister Eknath Shinde said.

With the latest cut, petrol price would be reduced to Rs 106.31 per litre in Maharashtra. Diesel price would come down to Rs 94.27 per litre in the state. “The central government had reduced VAT on November 4 and May 22 and PM Narendra Modi had also urged states to do so. However, the previous Mahavikas Aghadi government did not pay any heed to the request made by the Centre,” Maharashtra said at a press conference on Sunday.

The prices of petrol and diesel in other parts of country, however, remained unchanged on July 15. Fuel prices stood the same across the country for nearly two months now. Finance minister Nirmala Sitharaman announced to cut excise duty on petrol by Rs 8 per litre and on diesel by Rs 6 per litre on May 21. After that, several states also lowered the state tax or VAT on fuel to bring down the rates.

A litre of petrol would cost Rs 96.72 in Delhi. For a litre of diesel, you have to shell Rs 89.62 in the national capital. Petrol price stood at Rs 106.03 per litre in Kolkata while diesel was sold at Rs 92.7 per litre. In Chennai, petrol was available at Rs 102.63 per litre, while diesel would cost Rs 94.24 per litre.

The Oil Marketing Companies (OMCs) revise the fuel prices daily in line with international benchmark prices and foreign exchange rates. Petrol and diesel prices vary from state to state because of local taxes like Value Added Tax (VAT) or freight charges.

In the international market, oil prices rose in early Asian trading on Friday amid uncertainty around interest rate hikes by the US Federal Reserve to tackle soaring inflation. Brent crude futures for September delivery jumped 80 cents, or 0.8 per cent, to $99.90 a barrel by 0007 GMT, while WTI crude climbed 69 cents, or 0.7 per cent, to $96.47 a barrel.

Check Fuel Rates in Delhi, Mumbai, Chennai, Kolkata and Other Major Cities in India on Friday, July 15, 2022:

Delhi

Petrol: Rs 96.72 per litre

Diesel: Rs 89.62 per litre

Mumbai

Petrol: Rs 106.31 per litre

Diesel: Rs 94.27 per litre

Kolkata

Petrol: Rs 106.03 per litre

Diesel: Rs 92.76 per litre

Chennai

Petrol: Rs 102.63 per litre

Diesel: Rs 94.24 per litre

Bhopal

Petrol: Rs 108.65 per litre

Diesel: Rs 93.90 per litre

Hyderabad

Petrol: Rs 109.66 per litre

Diesel: Rs 97.82 per litre

Bengaluru

Petrol: Rs 101.94 per litre

Diesel: Rs 87.89 per litre

Guwahati

Petrol: Rs 96.01 per litre

Diesel: Rs 83.94 per litre

Lucknow

Petrol: Rs 96.57 per litre

Diesel: Rs 89.76 per litre

Gandhinagar

Petrol: Rs 96.63 per litre

Diesel: Rs 92.38 per litre

Thiruvananthapuram

Petrol: Rs 107.71 per litre

Diesel: Rs 96.52 per litre.

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