The Delhi government has cut the rate of VAT on diesel fuel in the state allowing prices for diesel to fall below petrol. The reduction in prices should come as a respite to residents of the national capital, where prices for the fuel had risen to above that of petrol in recent weeks.
- VAT on diesel in Delhi reduced to 16.75 percent from 30 percent.
- Diesel prices to be reduced by about Rs 8.36 per litre.
- Diesel priced at Rs 81.94 per litre as on July 30, 2020.
How much will the price reduce by?
Delhi Chief Minister Arvind Kejriwal said that the rate of VAT on diesel in the state would be cut from the existing 30 percent to 16.75 percent. This would, in turn, see prices reduced from the existing rate of around Rs 82 per litre to Rs 73.64 per litre, or about Rs 8.36 per litre.
Kejriwal said that the price for diesel in Delhi was quite high, recently costing about Rs…