New Delhi: Petrol and diesel prices remained stable for the 36th consecutive day today, despite the international crude oil price hovering around 75 75 a barrel. Due to the reduction in VAT, petrol prices in Delhi were reduced by about Rs 8 per liter on December 2, and since then, petrol in Delhi has remained stable at Rs 95.41 per liter and diesel at Rs 86.67 per liter.
Business started today with a good start in Singapore. London Brent crude rose 0.07 percent to 74 74.47 a barrel and US crude rose 0.20 percent to 71 71.08 a barrel.
The reduction in excise duty on petrol and diesel by Rs 5 and Rs 10 per liter, respectively, by the central government has brought down its prices in the country. Subsequently, 22 states of the country, including Uttar Pradesh and Karnataka, and the Centrally Administered Territories reduced the value added tax (VAT) on these two products. Yesterday, the Delhi government also announced a 30 per cent reduction in VAT on petrol under increasing pressure from petrol pump owners, making petrol cheaper by Rs 8.56 per liter in Delhi today. There has been no reduction in the weight of diesel, which is why it is at the level of the previous day. The reduction in VAT by Uttar Pradesh and Haryana in the Delhi NCR has made petrol and diesel cheaper than in Delhi, which is having a major impact on its sales in the capital. Due to which dealers put pressure on the government to reduce VAT.
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