Image Source: India TV

The Aam Admi Party government in Delhi has decided on cutting VAT on diesel in a cabinet meeting earlier today. Chief Minister Arvind Kejriwal, addressing a press conference, announced the lowering of the VAT. Diesel price in Delhi as of today is Rs 81.94 per litre. Delhi Cabinet has decided to reduce VAT on diesel from 30% to 16.75%. This will reduce price of diesel in Delhi to Rs 73.64.

Over the last few weeks, petrol and diesel prices have zoomed up across the country. The situation is such that for the first time, the price of diesel is more than that of petrol at several places including Delhi.

The current price of petrol in Delhi is Rs 80.4 per litre, about a rupee and a half lower than diesel.

On June 1, 2020, the price of diesel in Delhi was Rs 69. By the month end, it had zoomed up to Rs 80. This was the time when petrol and diesel saw a record streak of price rise on daily basis.