New Delhi: “This relief is in addition to the fact that despite a 43% rise in Saudi CP (our LPG import benchmark) in the past 7 months, our LPG prices had gone up by just 11%”, Union Petroleum and Natural Gas Minister tweeted on Saturday late evening. Soon after the slashing of petrol/diesel was announced.
He further went on to tweet “Today’s decisions along with steps to curb price rise on key infrastructure material such as cement, steel & plastics will bring wide-scale relief to crores of Indian families & provide pivotal support to Indian economy amidst a challenging global inflationary environment”.
He also wrote “This decision follows Nov ’21 central excise cut of ₹ 5 on petrol and ₹ 10 on Diesel. It underlines PM Modi Ji’s unwavering commitment to concerns of citizens and showcases PM’s leadership in crisis, despite refusal by some states to reduce prices and extraordinary supply constraints.”
Targeting the opposition ruled states he said “Further highlighting the fact that despite this second reduction in Central excise, the price of Petrol and Diesel in States like Maharashtra, Rajasthan, West Bengal, Tamil Nadu, Andhra Pradesh, Jharkhand and Kerala remain around 10-15 higher than in BJP ruled states, the Union Minister said it is time for these states to wake up and reduce VAT to provide relief to their consumers”.
“This is due to the refusal of their respective State Govts to reduce VAT. It is time for these states to wake up and reduce VAT to provide relief to their consumers. “he added.
Finance Minister Nirmala Sitharaman also expressed her views on the matter tweeting, “Earlier on Saturday, in a significant step aimed at providing relief to people from high fuel prices, the Centre announced a reduction in excise duty on petrol by 8 per litre and on diesel by 6 per litre”.
The move will have a revenue implication of around 1 lakh crore per year. She also urged states to reduce VAT on petroleum products to give relief to the common man. The government had similarly reduced excise duty on petrol and diesel in November last year on the eve of Diwali. It had reduced excise duty on petrol by 5 a litre and diesel by 10 a litre, she said.
Currently, petrol is retailed at ₹ 120.51 per litre in Mumbai, while diesel is sold at ₹ 104.77.
From Sunday, the petrol price in Mumbai will fall to ₹ 111.01 per litre, while diesel will cost ₹ 97.77 per litre.
Petrol price in Delhi will cost ₹ 95.91 a litre from tomorrow as against ₹ 105.41 a litre currently while diesel will cost ₹ 89.67 a litre as opposed to ₹ 96.67 a litre now.
In Kolkata, the petrol price on Sunday will come down to ₹ 105.62 a litre from ₹ 115.12. Diesel prices in Kolkata will fall to ₹ 92.83.
Petrol price in Chennai will cost ₹ 101.35 a litre from tomorrow as against ₹ 110.85 currently while diesel will cost ₹ 93.94 a litre as opposed to ₹ 100.94 now.
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