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Petrol, diesel to get cheaper from tomorrow in India

The fuel rates remained unchanged on October 31, keeping the prices steady for the last five months

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Fuel prices in India have been reduced by 40 paise per litre and the new rates will be effective from 6am on Tuesday, November 1.

The price of petrol today in New Delhi was Rs96.72, whereas it was Rs106.31 in Mumbai. In Kolkata the price was Rs106.03 for petrol while residents in Chennai had to pay Rs102.63 per litre.

The petrol and diesel rates remained unchanged on October 31, keeping the prices unchanged for five months now.

The last country-wide change in fuel prices came on May 21 this year, when Indian Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol by Rs8 per litre and Rs6 per litre on diesel.

Since the Indian central government excise duty cut, some states have also reduced VAT rates on auto fuels. Meghalaya was the last to revise the fuel rates when it increased VAT on August 24, because of which petrol now costs Rs96.83 per litre in Shillong and diesel is now priced at Rs84.72 per litre.

The Maharashtra government announced a cut in value-added tax (VAT) on petrol by Rs5 a litre and by Rs3 a litre for diesel in July.

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