Petrol, diesel prices on February 23: Rs 7.4 cut in rate! Fuel now cheaper in these states-check new rates
Petrol, diesel price cut:Petrol and diesel prices were once again hiked on Tuesday after a two-day pause.
Petrol, diesel price cut:Petrol and diesel prices were once again hiked on Tuesday after a two-day pause. Providing some relief, fuel prices were not hiked by oil marketing companies on Sunday and Monday. However, petrol and diesel rates were once again increased on Tuesday. Petrol price also crossed Rs 100-mark in some cities of Madhya Pradesh, Rajasthan and Maharashtra. Earlier, petrol and diesel prices were hiked for 12th consecutive days in February, before remaining unchanged on Sunday and Monday.
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With petrol and diesel prices rising in the country, both Centre and state governments are under immense pressure amid public criticism and attack by opposition parties to slash taxes to provide relief to common man. Also, with Brent crude price soaring to a new high daily and supplies being hit in America and from the Organization of the Petroleum Exporting Countries (OPEC), experts believe that there are negligible chances of getting relief from International market is expected. They believe state and Centre government need to cut taxes in order to provide some relief to the people form relentless price hike in fuel prices.
Taking this cue from experts and prevailing conditions, some states have decided to give tax relaxation on petrol and diesel prices. These states are West Bengal, Rajasthan, Assam, Meghalaya and Nagaland
Meghalaya government introduced the biggest relief on petrol and diesel price of Rs 7.4 and Rs 7.1 per litre respectively. Meghalaya reduced VAT on fuel to 20 per cent from 31.62 per cent.
Amid the rise of fuel prices in the country, the Nagaland government on Monday cut down taxes on petrol, diesel and other motor spirits. The amended tax rate will be effective from midnight of 22nd February. The rate of tax on petrol and other motor spirits in Nagaland have been reduced from 29.80 per cent to 25 per cent per litre or from Rs 18.26 to Rs 16.04 per litre (whichever is higher), according to the government notification. The tax rate for diesel reduced from Rs 11.08 to Rs 10.51 per litre or 17.50 per cent to 16.50 per cent per litre (whichever is higher), the notification said.
The West Bengal government announced a reduction of tax by Re 1 per litre on petrol and diesel in the state, effective today. In Kolkata, petrol is retailing at Rs 91.78, while diesel costs Rs 84.56 per litre.
The Ashok Gehlot-led Congress government in Rajasthan reduced the VAT on fuel from 38 per cent to 36 per cent. Notably, petrol prices continue to breach Rs 100-mark in Ganganagar and Hanumangarh districts of Rajasthan.
Assam, which will also go to polls this year, reduced tax on petrol and diesel price, dropping fuel rates by Rs 5 per litre. Petrol is retailing at Rs 87.33 in Guwahati, as per the rates today.
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