Petrol price cut in Maharashtra by Rs 5; Diesel price cut too

Maharashtra Chief Minister Eknath Shinde on Thursday has decided to give significant relief to the state’s people, in the increasing inflation. After discussion with the officials, Chief Minister Eknath Shinde has decided to reduce petrol by Rs 5 per litre and diesel by Rs 3 per litre.

Taking to Twitter, Shinde tweeted, “A decision to reduce VAT on fuel will be taken soon to provide relief to the people of the state.”

After this decision, Deputy CM Devendra Fadnavis also tweeted, “Great relief to Maharashtrian and Marathi Manus! Happy to announce that the new government under CM Eknathrao Shinde has decided to reduce Petrol and Diesel prices by Rs 5/litre and Rs 3/litre, respectively.”

In 2021-22, the Maharashtra government earned Rs 34,002 crore through VAT. On the other hand, Uttar Pradesh has earned Rs 26,333 crore.

Earlier in May, the Maharashtra government had cut petrol and diesel prices. The government had cut VAT on petrol by Rs 2.08 per litre and diesel by Rs 1.44 per litre.

Meanwhile, Telangana collects the highest amount of VAT from petrol and diesel. In Telangana, 35.20% tax is charged on petrol and 27% on diesel. In Rajasthan, 31.02% VAT is charged on petrol and 19.30% on diesel.

However, the rising prices of petrol and diesel are determined keeping in mind the price of crude oil in the international market, exchange rate, tax, transportation cost of petrol-diesel and many other things. Therefore, daily, the oil companies determine the prices.