Centre Slashes Excise Duty On Petrol By ₹ 8 And Diesel By ₹ 6

Since the 4 month long hiatus on fuel prices lifted at the end of March, prices of petrol and diesel have been on the rise, with petrol being over ₹ 120 in some parts of the country. In a bid to reduce the rising prices, Centre has cut down the central excise duty on petrol by ₹ 8 and diesel by ₹ 6 per litre.

Upon making this move, Union Finance Minister Nirmala Sitharaman said, “We are reducing the Central excise duty on Petrol by Rs 8 per litre and on Diesel by Rs 6 per litre. This will reduce the price of petrol by Rs 9.5 per litre and of Diesel by Rs 7 per litre.”

Despite the reduced fuel prices, petrol and diesel are still costlier than it was 2 months ago, pushing the Indian citizens towards alternative options.