In some respite to consumers, prices of petrol, diesel slashed marginally

In some respite to consumers, the prices of petrol and diesel saw a marginal fall on Thursday. Petrol was priced at Rs 82.62 per litre (decrease of Rs 0.21), while diesel traded at Rs 75.58 which was a fall of Rs 0.11 from Wednesday’s prices. In Mumbai, prices of petrol and diesel were Rs 88.08 per litre (decrease of Rs 0.21) and Rs 79.24 per litre (fall of Rs 0.11), respectively, according to the price notification by state-owned oil firms.

On Wednesday, the prices of petrol and diesel in Kolkata were Rs 84.76 and Rs 77.65, respectively. In Chennai, the prices were pegged at Rs 86.10 and Rs 80.04, respectively.

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With a steady increase in the prices of fuel on a daily basis over the past few weeks, this week has brought some relief to consumers with prices mostly remaining steady.

On October 4, fuel prices were cut by a minimum Rs 2.50 on October 5 when the government’s only second cut in excise duty of Rs 1.50 per litre and state-owned fuel retailers providing a Re 1 per litre subsidy came into effect. In BJP-ruled states, the reduction was higher as they matched the cut with a similar reduction in local sales tax or VAT.

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Delhi, which did not cut VAT on fuel, still has the cheapest fuel among all the metros and bulk of state capital as it levies lower taxes. Mumbai despite reducing VAT on petrol still has the highest priced fuel.