Zoom News : Dec 01, 2021, 01:54 PM
New Delhi: The Delhi government on Wednesday reduced the VAT on petrol to 19.40 percent from 30 percent.In tune with the same, the petrol price in Delhi will reduce by Rs 8 per litre.The new rates will come into effect from midnight today.The decision comes following a meeting of the Delhi Cabinet chaired by Chief Minister Arvind Kejriwal.The fuel prices, on the other hand, were kept unchanged for 27 consecutive days.The government had earlier on November 4 slashed the excise duty on petrol and diesel to bring rates slightly down from the record-high levels.As per the Indian Oil Corporation, petrol in Delhi is currently sold for Rs 103.97, while the rate of diesel is Rs 86.67.The fuel rates are the highest in fiscal capital Mumbai among the metro cities. The rates vary across the states due to VAT.The Central government had earlier on the eve of Diwali this year cut excise duty by Rs 5 per litre on petrol and Rs 10 per litre on diesel to bring down the retail prices across the nation.