Petrol Prices Drop By Around Rs 9 In India
Published On May 23, 2022 04:08 PM By Aamir Momin for Hero Splendor Plus
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It is the result of the recent excise duty cut by the Central government
The Central government recently slashed the excise duty on petrol and diesel in the country by Rs 8 and Rs 6 respectively. Here is what it costs now in the four major Indian cities:
After the excise duty slash, the Maharashtra government further reduced the VAT (value added tax) on petrol, making it cost Rs 111.35, which is Rs 9.5 less from what it cost the public just two days earlier. Apart from that, petrol now costs Rs 96.72 in Delhi, Rs 102.65 in Chennai and Rs 106.03 in Kolkata.
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The prices for fuel were increasing consistently over the last couple of months due to several factors, including the ongoing Russia and Ukraine conflict and rising raw material and crude oil costs. The subsequent increase amounted to an all time high price of petrol at Rs 120, which, when coupled with inflation, makes it expensive to own and run a vehicle.
With the prominent price cut, car and bike users can sense some relief which should make the fuel costs slightly lighter on their pockets.
