The Centre finally reduced petrol and diesel rates as a Diwali gift to the people of India. Many states had long been urging the Centre to reduce VAT on petrol and diesel.
Fuel prices have been touching new highs over the last few months. For New Delhi, petrol prices stand at 103.97 per litre while diesel rates stand for Rs 86.67 per litre.
Petrol prices in some states had even touched Rs 120 per litre. While diesel has crossed the Rs 100 per litre mark in three metros already.
In Bengaluru, Petrol prices stand at Rs 107.64 per litre while diesel rates stand at Rs 92.03 per litre.
States had long urged the Centre to reduce VAT on petrol and diesel. Fuel prices have been climbing over the last few months. Petrol prices in some states had touched ₹ 120 per litre while diesel has crossed the ₹ 100 per litre-mark in three metros.
Petrol Diesel rates slashed on Diwali
Various states namely Assam, Uttar Pradesh, Tripura, Manipur, Karnataka, Goa, Gujarat, Haryana, Himachal Pradesh and Uttarakhand have also announced additional cuts in petrol and diesel prices. This comes just hours after the Centre slashed excise duty on petrol and diesel by Rs 5 and Rs 10 on the eve of Diwali.
The Uttar Pradesh government also slashed the prices of diesel and petrol in the state by Rs 12 per litre each.
The price cuts will come into effect from today itself. Assam, Tripura, Manipur, Karnataka and Goa have further reduced the fuel prices by Rs 7 per litre.
Haryana also announced a reduction in VAT on petrol and diesel on Diwali. Moreover, the Janata Dal (United) in Bihar has also reduced VAT rates on petrol and diesel by over Rs 3 per litre.
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