Petrol prices have gone down by around Rs 8 per litre from Rs 103 per litre to Rs 95 per litre in Delhi as the state government has slashed the value-added tax on petrol. The VAT on petrol was slashed by the Delhi government from 30 per cent to 19.40 per cent. After a Cabinet meeting chaired by Delhi CM Arvind Kejriwal, it was decided that VAT will be slashed by 10.60 per cent and the revised petrol rates will come into effect from midnight.
In Delhi, petrol prices were higher compared to other NCR cities in Uttar Pradesh and Haryana, where state governments had slashed VAT after the Union Government reduced the excise duty on fuel. The government of India GoI has slashed excise duty on petrol by 5 per litre and excise duty on diesel by 10 per litre across the country on Diwali.
The prices of petrol have gone down in the national capital but the prices of aviation turbine fuel ATF have also fallen to Rs 77,532. After a decline of Rs 3,302, the 79 kL or $817.37 kL were 79 kL or 79 kL. The Union Government's revenue from collection of central excise duty on the manufacturing of various petroleum products in the country went up by 26.5 per cent to Rs 1,99, 416 crore. The revenue of Central Excise on petrol and diesel rose to 1,33, 455.34 crore and Rs 58,012. The revenue of excise duty on the ATF went up to 684.32 crore while the revenue of excise duty went up to 81 crore.