Petrol Diesel Price Today: The Central Government has given big relief regarding petrol and diesel prices. Making a huge cut in excise duty, tax on diesel has been completely abolished, while tax on petrol has been reduced from ₹13 to ₹3. This decision will have a direct impact on the pockets of the common man and may curb the rise in oil prices.
Petrol Diesel Price Today: On Thursday, Naira gave a shock by making petrol and diesel expensive, then this morning the central government has given a big relief to the common man. The government has drastically reduced the excise duty on petrol and diesel. The biggest thing is that the tax on diesel has now been reduced to zero (0). Let us understand how this decision of the government will affect your pocket, at what rate you will get oil now and what is the latest price of oil today…
What has changed in the oil?
There was talk of shortage of gas and oil and increase in inflation amid the ongoing war in the Middle East. Meanwhile, the Central Government has reduced its tax (excise duty) on petrol and diesel. Earlier there was a tax of ₹ 10 per liter on diesel, which has now been completely abolished. That means now the central government will charge ₹ 0 tax on diesel. Earlier there was a tax of ₹ 13 per liter on petrol, which has been reduced by ₹ 10 to just ₹ 3.
What will this change?
The government has reduced its earnings so that the money spent on oil can be saved from your pocket. This will not only reduce the cost of your vehicle, but will also reduce the fare of trucks carrying goods, due to which fruits and vegetables can also become cheaper.
What is excise duty?
Whenever something is manufactured in the country or comes out of a factory, the central government takes a charge on it, which is called excise duty. In case of petrol and diesel, this tax goes directly to the government treasury. Now that the government has reduced it, the oil companies will also get relief and they will not increase the burden on the public.
Latest prices of petrol and diesel in 10 big cities
Delhi
Petrol: ₹94.77
Diesel: ₹87.67
Mumbai
Petrol: ₹103.50
Diesel: ₹90.03
Kolkata
Petrol: ₹103.94
Diesel: ₹90.76
Chennai
Petrol: ₹100.75
Diesel: ₹92.34
Jaipur
Petrol: ₹104.72
Diesel: ₹90.21
Bhopal
Petrol: ₹106.52
Diesel: ₹91.89
Raipur
Petrol: ₹99.44
Diesel: ₹93.39
Chandigarh
Petrol: ₹94.24
Diesel: ₹82.40
What does this mean for the common man?
- If you go to office daily by bike or car, your monthly budget can be reduced by ₹ 500 to ₹ 1500.
- Due to cheap diesel, transportation becomes cheaper. This will have a direct impact on the prices of ration and everyday items.
- Margins of oil companies will improve, which will reduce the risk of sudden increase in prices in future.