New Delhi: According to government sources, the government is likely to reduce Value Added Tax (VAT) on petrol and diesel during the Delhi Cabinet meeting on Wednesday. "The Delhi administration may decide to reduce VAT, which will lower fuel and diesel rates in the national capital," according to sources.
Chief Minister Arvind Kejriwal will preside over the meeting, which will begin at 11:45 a.m. today. This year, on the eve of Diwali, the Centre reduced excise tax on petrol by Rs 5 per litre and diesel by Rs 10 per litre to lower retail prices across the country.
Fuel price: With the Central Govt tax reduction, petrol price was reduced to at Rs 103.97 in the national capital and remained unchanged today. Petrol price in Mumbai stood at Rs 109.98 per litre on the day, the highest among the metropolitan city. In Kolkata, price of one litre of petrol stood at Rs 104.67. In Chennai, petrol price was at Rs 101.40 for one litre, while Petrol price in Raipur was at Rs 101.11 on the day.