Highlights

Second cut in excise duties within 7 months
Petrol price in Delhi will from Sunday cost Rs 95.91 a litre as against Rs 105.41 a litre currently

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Petrol, diesel prices cut: Modi govt reduces excise duty as fuel costs reach historic highs

Name: Petrol, diesel prices cut: Modi govt reduces excise duty as fuel costs reach historic highs
Uploaded: 2022-05-21T18:51:45.000+05:30
Duration: T00M15S
Channel: EJ Biz Desk
Description: Diesel and petrol prices slashed in a big relief to the common man as the Modi government cut excise duty on fuel. Central govt reduced the duty on Petrol by Rs 8 per litre and on diesel by Rs 6 per litre. This will reduce the ...

"This will reduce the price of petrol by Rs 9.5 per litre and of diesel by Rs 7 per litre," Finance Minister Nirmala Sitharaman tweeted

Updated: Sep 02, 2022 10:53

EJ Biz Desk

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Petrol, diesel prices cut: Modi govt reduces excise duty as fuel costs reach historic highs

Diesel and petrol prices slashed in a big relief to the common man as the Modi government cut excise duty on fuel. Central govt reduced the 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 with immediate effect. This is the second cut in excise duty by the central govt in less than a year. Collective cut in excise Rs 13 on petrol and Rs 15 on diesel, this cut now reverses the govts hike in excise that it did in 2020.

ALSO WATCH | ₹200 per LPG cylinder subsidy for Ujjwala Yojana beneficiaries announced by Modi govt

The move will have revenue implication of around Rs 1 lakh crore per year for the government.

Frequently Asked Questions

What was the initial reduction in excise duty on petrol announced by the Modi government?❯

The Modi government reduced the excise duty on petrol by Rs 8 per litre.

How much did the price of petrol decrease as a result of the excise duty cut?❯

What was the initial reduction in excise duty on diesel announced by the Modi government?❯

How much did the price of diesel decrease as a result of the excise duty cut?❯

What is the collective reduction in excise duty on petrol after the second cut in less than a year?❯

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Petrol, diesel prices cut: Modi govt reduces excise duty as fuel costs reach historic highs

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