Diesel, Petrol Price Today: In a huge relief, the Arvind Kejriwal-led Delhi government on Wednesday decided to reduce the value-added tax (VAT) on diesel from 30 per cent to 16.75 per cent, bringing down the price nearly by over Rs 8 per litre.Also Read - Extreme Weather Events In THESE Places; Delhi To Record Coldest Day Of The Season Today

As a result, the price of diesel in Delhi will be reduced by Rs 8.36, from Rs 82 to Rs 73.64 per litre, CM Kejriwal said in a virtual press briefing. Also Read - Delhi Draft Motor Policy: Cab Fare During Surge Pricing To Be Capped

The Delhi CM said that there was a serious challenge of reviving the economy of Delhi but it will be achieved together with the cooperation of people. Also Read - Delhi CM Kejriwal Hints at Easing COVID Curbs as Positivity Rate Likely to Drop at 10%. Read Full Statement

Notably, petrol and diesel prices had zoomed up enormously since the nationwide lockdown was lifted after a two-month lag and diesel prices crossed the rate of petrol for the first time in 30 years in the national capital.

The unexpected rise in diesel prices despite slower demand has put the transport sector at a big disadvantage as rising fuel cost has further shrunk its margins, especially in the capital city where automobile companies raised concerned about the prospect of the sale of diesel-run cars in the country’s largest car market.