Even today the price remained stable.
Petrol rate today on 6 July in Mumbai: The price of petrol and diesel for today has been released by the oil marketing companies. Maharashtra CM Eknath Shinde said that the public will be given relief by cutting VAT.
today 45th day in a row Petrol and diesel prices ,Petrol Diesel rate) there was no change in any way. The last change in the price of petrol and diesel was on 22 May, when the Finance Minister announced a cut in excise duty. On May 21, an excise duty cut of Rs 8 per liter on petrol and Rs 6 per liter on diesel was announced. After this reduction, petrol in Delhi became cheaper by Rs 8.69 per liter and diesel by Rs 7.05. Let us tell you that different states charge VAT on petrol, due to which its price remains different in different states. The central government levies excise duty. The base price includes the fare, excise duty, deal commission and VAT to form the final rate of petrol and diesel.
Today the price of petrol in the capital Delhi is Rs 96.72 per liter. In the financial capital Mumbai, the price of one liter of petrol is Rs 111.35, in Kolkata Rs 106.03 and in Chennai Rs 102.63. The price of a liter of diesel in Delhi is Rs 89.62, in Mumbai Rs 97.28, in Kolkata Rs 92.76 and in Chennai Rs 94.24. Petrol and diesel are the most expensive in the financial capital Mumbai.
Relief from expensive petrol and diesel in Maharashtra
On July 4, the newly-appointed Chief Minister of Maharashtra Eknath Shinde has announced a reduction in VAT to reduce the price of petrol and diesel in the state. He clearly said that when the central and state governments work together, the pace of development increases. It is believed that a decision on this issue can be taken in the cabinet meeting. By the way, how much the price will be cut, there is no information about it at the moment.
We will cut VAT on petroleum to provide relief to the people of Maharashtra… When the Central government comes with any state government, the speed of development increases multifold in that state. We will surely get benefit from Devendra Fadnavis’s experience: Maharashtra CM Eknath Shinde pic.twitter.com/dU5yGxisyM
— ANI (@ANI) July 4, 2022
Export duty on petrol and diesel exports
Meanwhile, due to the skyrocketing rate of crude oil, the government has announced windfall tax. Under this, an additional tax of Rs 22350 per tonne has been announced on domestic oil production. Apart from this, export duty has been imposed on petroleum exported from the domestic market. An export duty of Rs 6 per liter has been imposed on petrol and jet fuel and Rs 13 per liter on diesel.
Reliance and ONGC’s profits will decline
The windfall tax on domestic crude oil production and fuel exports will give the government about $12 billion (Rs 94,800 crore) in the remaining period of the current financial year. Moody’s Investors Service on Tuesday said that with this there will be a cut in profits of companies like Reliance Industries Limited and ONGC.
$12 billion will come in the rest of the fiscal year
The rating agency said, “Based on India’s crude oil production and exports of petroleum products for the financial year (2021-22) ended March 31, 2022, we estimate that the government will spend approximately Rs. Will achieve additional revenue of US$ 12 billion. This additional revenue will help offset the negative impact of reduction in excise duty for petrol and diesel at the end of May.