You are here: Home » Current Affairs » News » National
Business Standard

Petrol stable at Rs 86.95 a litre in Delhi, Meghalaya to cut cost by Rs 2

Chhattisgarh Chief Minister Bhupesh Baghel on Sunday demanded that cess on petrol and diesel introduced in the Union Budget should be withdrawn claiming that it would result in inflation

Topics
petrol | diesel price | Fuel prices

BS Web Team  |  New Delhi 

Photo: Reuters
Meghalaya government has decided to reduce the tax on petrol and diesel in the state by Rs 2 per litre.

prices in India remained stable after touching new all-time highs as oil marketing companies increased rates on Friday, fuelling hopes that the government cuts excise duties.

price in Delhi stayed at Rs 86.95 a litre on Monday, the record price at which has been sold in the capital. Diesel also remained unchanged at Rs 77.13.

Petrol price in Mumbai stood at Rs 93.49, one litre of diesel will cost Rs 83.99 in the city. In Chennai, petrol was at Rs 89.39. Diesel was retailing at Rs 82.39 in the city.

Meanwhile, the Meghalaya government has decided to reduce the tax on petrol and diesel in the state by Rs 2 per litre from Monday midnight, Chief Minister Conrad K Sangma.

"In view of the recent price hike in petrol and diesel in #Meghalaya, Govt. has decided that the rate for both petrol and diesel will be reduced by 2 rupees per litre, effective from midnight of 8th February 2021," the chief minister tweeted on Sunday.

The state government's decision to reduce rates comes days after local taxi operators in the state capital here protested against the high taxes in petrol in the state. The price of petrol is little over Rs 90 per litre in the state capital.

Chhattisgarh Chief Minister Bhupesh Baghel on Sunday demanded that cess on petrol and diesel introduced in the Union Budget should be withdrawn claiming that it would result in inflation.

"Cess on petrol and diesel introduced in the Union Budget should be withdrawn. It will burden the common people and cause inflation. It is not good if only the Centre receives the cess revenue," Baghel told the reporters on Sunday.

During his budget speech, Union Finance Minister Nirmala Sitharaman had announced the imposition of Agriculture Infrastructure and Development Cess (AIDC) of Rs 2.5 per litre on petrol and Rs 4 per litre on diesel. However, there would be no additional burden on the consumer overall as Sitharaman during Budget presentation also proposed to reduce Basic Customs Duty on these items.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, February 08 2021. 06:58 IST
RECOMMENDED FOR YOU
.