Petrol prices reduced by Rs. 8 per litre in Delhi

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In a significant development, Delhi’s Aam Aadmi Party government on Wednesday decided to cut down the price of petrol in the national capital by about Rs 8 per litre by reducing the VAT on the fuel.

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A report by news agency PTI said that the decision was taken at a cabinet meeting chaired by Chief Minister Arvind Kejriwal. The Delhi cabinet decided to reduce the Value-Added Tax (VAT) on petrol from the present 30 percent to 19.4 percent. This would lead to a reduction of Rs. 8 per litre in the price of petrol in Delhi.

This means that the price of petrol per litre in Delhi will now cost Rs. 95, which is still considerably high for ordinary consumers.

The move by Kejriwal government follows similar decisions taken by BJP governments of neighbouring Haryana and Uttar Pradesh. These states had announced their decisions to reduce the VAT after the Centre’s Narendra Modi government slashed excise duty on petroleum products.