Zee Media Bureau
New Delhi: In a huge respite for the middle class, government on Friday slashed the price of petrol, diesel and non-subsidised LPG.
Petrol price was cut by Rs 2.43 per litre and diesel by Rs 3.60 a litre, the third reduction in rates this month, with effect from midnight Friday. Price of non-subsidised LPG, which consumers buy after exhausting their quota of subsidised cooking fuel, was cut by Rs 23.50 per 14.2-kg bottle, in sync with international rates.
Petrol in Delhi will cost Rs 64.47 per litre from tomorrow instead of Rs 66.90 at present, while a litre of diesel will cost Rs 46.12 as against Rs 49.72 currently, Indian Oil Corp (IOC) said in a statement.
Following are the revised rates of petrol and diesel in four metros after oil firms cut prices with effect from midnight tonight:
(All Rates in Rs/litre)
PETROL
Current Price Revised Price Decrease
Delhi 66.90 64.47 2.43
Kolkata 71.57 69.15 2.60
Mumbai 71.97 69.51 2.46
Chennai 67.29 64.77 2.52
DIESEL
Current Price Revised Price Decrease
Delhi 49.72 46.12 3.60
Kolkata 52.75 49.66 3.09
Mumbai 55.15 51.29 3.86
Chennai 51.08 47.30 3.78
Petrol and diesel prices were last cut by Rs 2 per litre each, excluding local sales tax, from July 16 but consumers in Delhi were robbed of the benefit as Arvind Kejriwal government raised VAT on the two fuels.
As a result, petrol price in Delhi went up by 28 paise a litre after considering a local government decision to hike VAT or sales tax on the fuel from 20 to 25 per cent.
Rates of diesel, on which VAT was raised from 12.5 per cent to 16.6 per cent, saw a smaller reduction of 50 paise per litre.
Prior to this, the price of petrol was cut on July 1 by 31 paise per litre and diesel by 71 paise a litre.
State-owned fuel retailers -- IOC, Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) -- revise petrol and diesel prices on 1st and 16th of every month based on average imported cost and rupee-dollar exchange rate in the previous fortnight.
Meanwhile, non-subsidised cooking gas (LPG) price in Delhi has been cut to Rs 585 per cylinder from tomorrow as compared to Rs 608.50 at present, said Indian Oil Corp (IOC), the nation's largest oil firm.
This is the second reduction in rates in as many months.
Price of non-subsidised LPG was last cut by Rs 18 per cylinder to Rs 608.50 from July 1.
Non-subsidised or market-priced LPG is one that consumers buy after exhausting their quota of 12 bottles of 14.2-kg each at subsidised rates in a year.
Subsidised LPG costs Rs 417.82 per 14.2-kg cylinder in Delhi.
With PTI Inputs
