The Delhi government on Wednesday reduced value-added tax (VAT) on petrol from 30 percent to 19.40 percent.
Following the reduction, the petrol price in Delhi will be cut by Rs. 8 per litre. The new prices will be effective from midnight of Wednesday.
Meanwhile, fuel prices were kept unchanged for 27 consecutive days. Earlier on November 4, the government had slashed excise duty on petrol and diesel to bring rates slightly down from the record-high levels.
In Delhi, petrol is currently sold for ₹ 103.97; while diesel rate stood at ₹ 86.67, according to Indian Oil Corporation. In Mumbai, petrol is retailed at ₹ 109.98 per litre; while diesel is being sold at ₹ 94.14 per litre.
Among the metro cities, fuel rates are the highest in Mumbai. The rates vary across the states due to value-added tax or VAT.