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 - Coronavirus Cases in Delhi Cross 1.45 Lakh-mark, Kejriwal Says Situation Under Control | Top Developments

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 - 'Many From Outside Getting Tested Here': Delhi Health Minister on Rise in Capital's COVID-19 Cases

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 - Containment Zones in Delhi Dip to 293 | Check Full List

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.