Petrol and diesel prices get cheaper in Odisha, Check updated rate today

Bhubaneswar: The petrol and diesel prices in Bhubaneswar have decreased on Saturday by Rs 2.89 and Rs 2.69 respectively after the government of Odisha reduced the value-added tax (VAT) by Rs 3 per litre on fuel prices.

According to the updated list, the price of petrol has been recorded at Rs Rs 101.81 while the diesel rate has been recorded at Rs 91.62 today. Earlier on Friday, the cost of petrol has been recorded at Rs 104.70 per litre while the diesel price has been recorded at Rs 94.51 per litre.

The cost of petrol has decreased across the Odisha where the rates have been cut down to below Rs 110 while the diesel rates have also dropped below Rs 100 in all the districts.

In view of this reduction, the loss of VAT revenue to state exchequer will be to the tune of Rs 1400 Cr. per annum. This is in addition to loss in VAT collection at Rs. 1.6/ litre on petrol and Rs. 2.8/ litre on diesel, total amounting to Rs 700 Crore which the state is likely to incur in view of Excise duty reduction by Government of India.

On the other hand, in major cities of India like Chennai, Kolkata and Mumbai the petrol prices have been recorded at Rs 101.40, Rs 104.67 and Rs 109.98 respectively. The diesel price are recorded at Rs 91.43 in Chennai, Rs 89.79 in Kolkata and in Mumbai the rates are at Rs 94.14.

Meanwhile, the price of petrol in the national capital is recorded at Rs 103.97 per litre while the price of diesel is at Rs 86.67 per litre.

It is pertinent to mention that the central government had announced a fall of petrol and diesel price on Wednesday as a special gift for this Diwali. The fall in petrol price has brought much needed relief to consumers. On eve of Diwali, Government of India announced excise duty reduction on petrol and diesel. Excise duty on Petrol and Diesel to be reduced by Rs 5 and Rs 10 respectively.

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