In news that comes as a relief to the common man, the Centre has decided to cut excise duty on petrol by Rs 8 per litre and on Diesel by Rs 6 per litre. This will effectively reduce the price of petrol by Rs 9.5 per litre and of diesel by Rs 7 per litre.
Finance Minister Nirmala Sitharaman, while making the announcement on her Twitter handle on May 21, requested state governments to follow the lead, especially those who didn’t announce a reduction last time (Novemeber 2021).
“I wish to exhort all state governments, especially the states where reduction wasn’t done during the last round (November 2021), to also implement a similar cut and give relief to the common man,” appealed Ms Sitharaman.
Petrol price in Delhi will from Sunday cost Rs 95.91 a litre as against Rs 105.41 a litre currently, while diesel will cost Rs 89.67 a litre as opposed to Rs 96.67 a litre now.
After the latest excise cut, the incidence of central tax on petrol will come down to Rs 19.9 a litre and that on diesel to Rs 15.8 per litre.
(For more updates stay tuned with DNP India)