Delhi: VAT on petrol reduced to 19.40%, price drops by Rs 8 per litre

New Delhi : Delhi government on Wednesday reduced value added tax VAT an petrol to 19.40 per cent from 30 per cent.

With this the petrol prices in the national capital has come down by rupees 8 per litre. The new prices will come to effect from midnight.

Meanwhile, the petrol prices have not been changed for last 27 days. On November 4, the government had slashed excise duty on petrol and diesel to bring rate slightly down and provide relief to the people.

The current prices of petrol in Delhi is Rs 103.97 per litre and diesel is being retailed at Rs 86.67 per litre.

For those who are not aware, state and oil refineries such as Indian Oil, Bharat Petroleum and Hindustan Petroleum revise their petrol and diesel rates on daily basis, by taking into the account of recent crude oil prices in international market.