New Delhi: After the central government cut excise duty on petrol and diesel in the past few days, there was no change in the price of oil for the third time in a row. The government had announced a big cut on the last year to give relief to the common man from the expensive oil. After that, petrol became cheaper by Rs 9.5 per litre and diesel by Rs 8 per litre. On the other hand, the rate of crude oil continues to rise marginally.
In fact, WTI crude reached $109.80 per barrel and Brent crude at $112.9 per barrel. However, after the reduction in excise duty by the government, Maharashtra, Kerala and Rajasthan had given relief to the common man by reducing VAT cut on petrol-diesel. And the VAT cut will cost the Maharashtra government Rs 2,500 crore. The Rajasthan government has also reduced the VAT on petrol-diesel prices. In fact, here vat on petrol was reduced by Rs 2.48 per litre and on diesel by Rs 1.16 per litre.
In Addition, vat in Kerala was cut by Rs 2.41 and diesel by Rs 1.36 per litre. Before the last year, the oil companies had increased the price of petrol and diesel by 10 rupees from March 22, 2022, to April 6. However, since April 6, the price had remained stable and there was no change. Now a big relief has been given to the common man by cutting the excise duty and VAT on behalf of the Centre and the states once again.