Fuel Prices To Reduce As Centre Slashes Excise Duty


New Delhi: The Centre on Saturday slashed excise duty on petrol and diesel by Rs 8 and Rs 6 per litre respectively.

This will reduce the price of petrol by Rs 9.5 per litre and of diesel by Rs 7 per litre. This was informed by Union Finance Minister Nirmala Sitharaman.

Finance Minister Nirmala Sitharaman said, “It [Excise duty cut] will have revenue implication of around Rs one lakh crore/year for the government.”

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