Centre Slashes Excise Duty On Petrol By Rs. 8 And Diesel By Rs. 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 Rs. 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 Rs. 8 and diesel by Rs. 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.