The petrol prices in Delhi got slashed by Rs 8 per litre after the Delhi Government on Wednesday announced to cut the value added tax (VAT) to fuel price from 30% to 19.40%. Earlier, the price of petrol in Delhi had reached Rs 103.97 per liter, which has now been reduced to Rs 95.97 per liter.
The decision was taken by Chief Minister Arvind Kejriwal on Wednesday during the cabinet meeting.
Meanwhile in Delhi, diesel is being sold at Rs 86.67 per litre, while the new petrol prices will change with immediate effect, the government has said.
The cutting down on VAT will bring a relief to the residents who were paying more than a hundred rupees for one litre of petrol.
Earlier on the eve of Diwali, the central government had also cut the excise duty on petrol by Rs 5 per litre and Rs 10 per litre on diesel, which had also helped in bringing down the skyrocketing prices of the fuel across the country. Since then, several states and Union territories, especially those governed by the Bharatiya Janata Party (BJP) and allies, are trying to slash the petrol and diesel prices in their respective states.
Nationally, the fuel prices remain the same for the twenty eighth consecutive day on Wednesday after the central government had reduced the excise duty.
However, since the petrol prices became cheaper in Delhi, the city will witness a rush of commuters from national capital region including Noida and Gurgaon.