Petrol, Diesel Price: In a bid to control the soaring inflation, the central government on Saturday announced an excise duty cut on fuel rates in India. Several state governments in the country have since then announced similar cuts in VAT, including Maharashtra
Fuel Price Today | New Delhi: After the announcement by the Central government to slash the excise duty on petrol and diesel, the Maharashtra government also announced a rate cut, Petrol, Diesel prices in Mumbai and other parts of Maharashtra will see a direct impact of the decision. According to reports, the government has decided to cut VAT on petrol and diesel by Rs 2.08 per litre and Rs 1.44 per litre respectively
For the unversed, the central government levies excise duty on these fuels, whereas the state governments impose VAT. The value of VAT is based on the percentage of the fuel price, after adding the excise duty. So, if the excise duty is cut, VAT also reduces automatically.
After the central government’s decision to cut the excise on petrol by Rs 8 per litre and on diesel by Rs 6 per litre, petrol prices and diesel prices in Delhi fell by Rs 9.5 per litre and Rs 7 per litre respectively. This comes as a relief to the common man who has been reeling under the pressure of high fuel prices since the onset of the Russia Ukraine war.
Petrol, Diesel Price Today: Check the latest rates in your city on May 23
| City | Petrol Price (per litre) | Diesel Price (per litre) |
| New Delhi | Rs 96.72 | Rs 89.62 |
| Mumbai | Rs 111.35 | Rs 97.28 |
| Chennai | Rs 102.65 | Rs 94.24 |
| Kolkata | Rs 106.03 | Rs 92.76 |
| Bengaluru | Rs 101.94 | Rs 87.89 |
| Gurugram | Rs 97.81 | Rs 90.05 |
| Ahmedabad | Rs 96.30 | Rs 92.43 |
The latest tax cut by the government is an attempt to control high inflation in the country. According to official data, wholesale price inflation (WPI) for April was at a record high of 15.08 per cent. Retail inflation, on the other hand, was at an eight-year high of 7.79 per cent
