Petrol to cost Rs 9.5 less, diesel Rs 7 as Centre cuts excise duty

Centre has slashed excise duty on petrol and diesel by Rs 8 and Rs 6 per litre respectively.

The Centre on Saturday finally 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.

7/12 We are reducing the Central excise duty on Petrol by 8 per litre and on Diesel by 6 per litre.This will reduce the price of petrol by 9.5 per litre and of Diesel by 7 per litre.It will have revenue implication of around 1 lakh crore/year for the government.

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