New Delhi, Nov 3,2021: In a major relief to the common man ahead of Diwali, the Centre on Wednesday announced to cut excise duties on petrol and diesel by Rs 5 and Rs 10 respectively.
Prices of petrol and diesel will thus come down accordingly from tomorrow.
“Government of India has taken a significant decision of reducing Central Excise Duty on Petrol and Diesel by Rs 5 and Rs 10 respectively from tomorrow. Prices of petrol and diesel will thus come down accordingly,” Finance Ministry said.
Fuel prices have been on a high and breaching all previous records with opposition political parties mounting pressure on the government to cut taxes on the two motor fuels.
Petrol in Delhi is currently being sold at Rs 110.04 per litre, while diesel at Rs 98.42 per litre.
While announcing the duty cut on petrol and diesel, the government said that reduction in excise duty on petrol and diesel will also boost consumption and keep inflation low, thus helping the poor and middle classes.
