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This is the first reduction in rates after four rounds of increase since February. In the first reduction in rate in two months, jet fuel or ATF price on Thursday was cut by 3 per cent in line with softening international crude oil prices. Aviation turbine fuel (ATF) price was reduced by Rs 1,887 per kilolitre, or 3 per cent, to Rs 58,374.16 per kl in the national capital, according to a price notification of state-owned fuel retailers. This is the first reduction in rates after four rounds of increase since February. Rates were increased by Rs 3,246.75 per kl on February 1, followed by a 3.6 per cent hike on February 16, and a steep 6.5 per cent raise on March 1. On March 16, prices were again raised by Rs 860.25 per kl. ....
As prices skyrocket, some states cut taxes on petrol and diesel Premium (REUTERS) The current petrol price break-up in Delhi shows that 60% of the retail price is excise duty and value-added tax (VAT) Reserve Bank of India governor Shaktikanta Das has called for reduced indirect taxes on petrol and diesel to contain the fuel prices at a reasonable level Share Via Read Full Story Amid rising fuel prices and subsequent uproar, five states have decided to cut down taxes on petrol, diesel and other motor spirits to provide relief to customers. These are the states that have reduced taxes TRENDING STORIESSee All ....