Changes in Windfall Tax Affect Petrol and Diesel Prices
New Delhi, November 2: Petrol and diesel prices remain unchanged today, with petrol priced at ₹102.12 per litre and diesel at ₹95.20 per litre in the national capital. The Modi government has eliminated the windfall tax on petrol exports while increasing the tax on diesel by ₹3 per litre, bringing it to ₹11.50. This adjustment is not expected to impact the common man’s finances.
Meanwhile, the prices of crude oil have shown a slight decline, trading at approximately $111.78 per barrel for Brent crude, down by $1.65. The prices for premium petrol are ₹109.24 for XP95 and ₹167.35 for XP100 per litre.
In Lucknow, petrol costs ₹102.05 per litre, and diesel is priced at ₹99.28. Port Blair continues to have the lowest fuel prices in the country, with petrol at ₹88.66 and diesel at ₹84.56. Conversely, Chittoor in Andhra Pradesh has the highest petrol price at ₹118.34 per litre.
Despite the global surge in crude oil prices, which have risen nearly 90% this year due to conflicts in the Middle East, India has managed to keep petrol and diesel price increases to just 8.50%. The government is absorbing much of the inflationary pressure, providing relief to the public.
The ongoing crisis in West Asia is projected to impose an additional financial burden of around ₹1.35 lakh crore on the government, although it is expected to manage this without cutting expenditures.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.