Petrol price cut by Rs 6.07, diesel by Rs 11.75 per litre in Delhi

Petrol price on Thursday was cut by Rs 6.07 per litre and diesel price by Rs 11.75 in Delhi as oil companies passed on a record reduction in excise duty rates to consumers.

Buckling under pressure, the government had on Wednesday cut excise duty on petrol by Rs 5 per litre and that on diesel by Rs 10 a litre to give reprieve to consumers battered by record high retail fuel prices. Since states charge local sales tax or VAT not just on the base price but also on the excise duty levied by the centre, the total incidence of price reduction is higher.

Petrol will cost Rs 103.97 per litre in Delhi against Rs 110.04 per litre, according to a price notification of state-owned fuel retailers.