Fuel Prices Drop Across Odisha As Govt Slashes Excise Duty; Check The Rates

Bhubaneswar: After remaining unchanged for the last 45 days, the prices of petrol and diesel dropped sharply by Rs 9.59 and Rs 7.76 respectively in Odisha on Sunday following the excise duty cut announced by the Centre to curb sky-rocketing inflation.

Petrol will cost Rs 103. 19/litre in Bhubaneswar while diesel will be Rs 94.76/litre. Similarly, petrol and diesel are available at Rs 103.28 and Rs 94.84 per litre in Cuttack. In Sundargarh, petrol is being sold at Rs 104.38 and diesel is available at Rs 95.93.

PETROL PRICES

On Saturday, Union Finance Minister Nirmala Sitharaman announced the Centre’s decision to reduce the central excise duty on petrol by Rs 8 per litre and on diesel by Rs 6 per litre. The move will reduce the price of petrol by Rs 9.5 per litre and of diesel by Rs 7 per litre, she added.

The state government has given no indication of reducing VAT on the fuel, which is one of the major sources of revenue generation for Odisha. It had reduced the VAT by 4 per cent in November 2021 corresponding with the Centre’s decision to cut down excise duty. The state, however, had not responded to Prime Minister Narendra Modi’s call to reduce VAT in April this year.

The government now imposes VAT of 28 per cent  on petrol and 24 per cent on diesel.