Price of gasoline and diesel on August 18 in Delhi, Mumbai, Bengaluru, Hyderabad, Kolkata, and Chennai

Maharashtra government declared a VAT cut on petrol and diesel by Rs 5 and Rs 3 per litre . Maharashtra government would cost the state exchequer Rs 6,000 crore per year .

Except in Maharashtra, petrol and diesel prices in India stayed unchanged for the 89th day in a row on August 18, 2022.On July 15, the Maharashtra government declared a Value-Added Tax (VAT) cut on petrol and diesel by Rs 5 and Rs 3 per litre, respectively.This expansion would cost the state exchequer Rs 6,000 crore per year.Oil Marketing Companies have left petrol prices in other cities unchanged since Finance Minister Nirmala Sitharaman declared an excise duty cut of Rs 8 a litre and diesel by Rs 6 a litre.

Mumbai's petrol price currently stands at Rs 106.31 per litre, while Mumbai's diesel price is at Rs 94.27 per litre.CityPetrol price (per litre)DelhiRs 96.72Rs 89.62MumbaiRs 106.31Rs 94.27BengaluruRs 107.94Rs 87.89ChennaiRs 102.63Rs 94.24KolkataRs 106.03Rs 97.8NoidaRs 96.65Rs 89.Because of local taxes, such as VAT or freight fees, retail gasoline and diesel prices will vary from state to state.Crude oil priceIn the wake of global recession, crude oil prices dropped on Thursday morning.