Petrol Price Slashed By Rs. 3 Per Litre In Tamil Nadu; Retails At Rs. 99.47/Litre In Chennai

The petrol rate in Chennai has been reduced to Rs. 99.47 per litre on Saturday after the Tamil Nadu state government announced a tax cut of Rs. 3 a litre on the fuel, according to a notification by state-run fuel retailers. The tax cut was announced by the Tamil Nadu Finance Minister Palanivel Thiaga Rajan on Friday while presenting the revised Budget for 2021-22 to the Assembly. Do note, diesel rate was left unchanged, currently priced at Rs. 94.39 per litre in Chennai.

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Fuel prices remained untouched on Saturday for the 28th consecutive day in other parts of the country. In the national capital, petrol currently retails at Rs. 101.84 a litre, while diesel is priced at Rs. 89.97 a litre according to priced details available on Indian Oil Corporation's official website.

Petrol prices are at the three-digit mark across all major metros in the country

In Mumbai, petrol and diesel prices stood unchanged at Rs. 107.83 a litre and Rs. 97.45 a litre, respectively. The financial capital of India became the first metro where petrol breached the Rs. 100-litre mark. Petrol prices are at the three-digit mark across all major metros in the country, and fuel is the most expensive in Mumbai when compared to other metro cities. In Kolkata, petrol and diesel rates remained steady at Rs. 102.08 and Rs. 93.02 a litre, respectively.

The fuel rates vary from state to state in the country due to the value-added tax or VAT. Rajasthan levies the highest VAT on fuel, followed by Madhya Pradesh, Maharashtra, Andhra Pradesh and Telangana. Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum are the three leading oil marketing companies. They revise domestic fuel prices with global benchmarks by taking into account alterations in the foreign exchange rates accordingly.