Mumbai, November 2: In a major relief to the common man, the prices of petrol and diesel might get cut by 40 paise tomorrow. According to CNBC Awaaz, Oil marketing companies (OMCs) may cut petrol and diesel prices by 40 paise in the next five days. That will bring a total reduction of Rs 2 in petrol and diesel prices in installments.
If this reduction takes place, it will be the first since May 2022, when the centre cut excise duty on petrol by Rs 8 and on diesel by Rs 6, in a view of rising fuel prices due to the Russian Invasion of Ukraine. However, petrol and diesel prices across the country have remained unchanged for over five months now. Politically, a substantial price cut may be preferred for the positive impact it will create in favour of the ruling party ahead of assembly elections in Himachal Pradesh and Gujarat. Fuel Price Cut Today: Petrol, Diesel Prices Slashed by 40 Paise Per Litre, Check Rates in Major Cities.
As of today, petrol and diesel in Delhi cost Rs 96.72 and Rs 89.62 a litre, respectively. In Mumbai, petrol is being sold for Rs 106.31 per litre and diesel for Rs 94.27. Petrol and diesel are priced at Rs 102.63 and Rs 94.24 in Chennai and in Kolkata, at Rs 106.03 and Rs 92.76 respectively. India Cuts Windfall Tax on Export of Crude Oil From Rs 11,000 to Rs 9,500, Hikes for Aviation Fuel, Diesel.
On Wednesday, the Central government reduced the windfall gains tax on crude from Rs 11,000 per tonne to Rs 9,500. Along with the reduction, the centre raised the export tax on jet fuel from Rs 3.50 per litre to Rs 5 and on diesel from Rs 12 per litre to Rs 13 per litre as margins rose.
(The above story first appeared on Fresh Headline on Nov 02, 2022 11:54 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website freshheadline.com).