By Online Desk
On the eve of Diwali, the Government of India announced its decision to reduce fuel prices, Rs 5 on petrol and Rs 10 on diesel.
The government said these prices will come into effect from Nov 4, Thursday.
On eve of #Diwali, Government of India announces excise duty reduction on petrol and diesel. Excise duty on Petrol and Diesel to be reduced by Rs 5 and Rs 10 respectively from tomorrow pic.twitter.com/peYP1fA4gO
— ANI (@ANI) November 3, 2021
This decision definitely comes as a relief to citizens as fuel prices for a while have been rising constantly on account of the excise tax and VAT imposed by the Union government and state governments.
ALSO READ: Fuel prices soar by Rs 8 a litre in October
Earlier today, one litre of petrol breached the Rs 110-mark on Tuesday in the national capital while the same was sold at Rs 115.85 in Mumbai. In a more troublesome news for consumers, especially during the on-going festive season, fuel prices are showing no signs of slowing down after becoming dearer by around Rs 7.50-8.00 a litre in October alone.
The rate of 1 litre of petrol was hiked by 35 paise on Tuesday, though the price of diesel remained unchanged. With this fresh hike, seventh in a row, petrol prices in Delhi was at a record high of Rs 110.04 per litre on Tuesday, while diesel was sold at Rs 98.42 per litre.
Among the four metros, fuel prices are the highest in the financial capital Mumbai, with 1 litre of petrol and diesel costing Rs 115.85 and Rs 106.62, respectively. In Chennai, petrol is at Rs 106.66 per litre, while diesel is available at Rs 102.59. In Kolkata, petrol and diesel are retailing at Rs 110.49 and Rs 101.56 per litre, respectively.
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