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  4. Petrol to cost Rs 9.5 less, diesel cheaper by Rs 7 as Modi govt cuts excise duty | Check new prices

Petrol to cost Rs 9.5 less, diesel cheaper by Rs 7 as Modi govt cuts excise duty | Check new prices

Petrol, diesel price news: Union finance minister Nirmala Sitharaman said the Centre will reduce the central excise duty on petrol by ₹8 per litre and on diesel by ₹6 per litre.

Sri Lasya Edited by: Sri Lasya @laasiyapriya New Delhi Updated on: May 21, 2022 20:56 IST
Govt reduces excise duty on petrol by ₹8 per litre and on
Image Source : PTI

Govt reduces excise duty on petrol by ₹8 per litre and on diesel by ₹6 per litre | Check new prices

Highlights

  • Centre announced a reduction on central excise duty on Petrol by ₹ 8/litre and Diesel by ₹ 6/litre
  • This will reduce the price of petrol by ₹ 9.5 per litre and of Diesel by ₹ 7 per litre
  • Petrol price in Delhi will from Sunday cost ₹ 95.91 a litre as against ₹ 105.41 a litre currently

Petrol, diesel price news: The Central government on Saturday announced a reduction on central excise duty on Petrol by ₹ 8 per litre and on Diesel by ₹ 6 per litre.

Finance Minister Nirmala Sitharaman said that this will reduce the price of petrol by ₹ 9.5 per litre and of Diesel by ₹ 7 per litre.

It will have a revenue implication of around ₹ 1 lakh crore/year for the government.

 
Urging the state governments to implement a similar cut, the FM said, "I wish to exhort all state governments, especially the states where the reduction wasn’t done during the last round (November 2021), to also implement a similar cut and give relief to the common man."

The prices of petrol and diesel have remained steady for 40 days, after 14 revisions that led to an increase by Rs 10 a litre each. Fuel prices were last hiked on April 6 by 80 paise a litre each.

Petrol price in Delhi will from Sunday cost ₹ 95.91 a litre as against ₹ 105.41 a litre currently, while diesel will cost ₹ 89.67 a litre as opposed to ₹ 96.67 a litre now.

India Tv - Before and after petrol prices in metros

Image Source : INDIA TV GRAPHIC.

Before and after petrol prices in metros

As of May 21, petrol in Delhi cost 105.41 a litre and diesel Rs 96.67 a litre. In Mumbai, petrol and diesel prices are at Rs 120.51 and Rs 104.77 per litre, respectively. 

Sitharaman also said that the Modi government decided to give a subsidy of Rs 200 per gas cylinder (upto 12 cylinders) to over nine crore beneficiaries of Pradhan Mantri Ujjwala Yojana.

Read More | Govt cuts LPG price by Rs 200 per cylinder, petrol and diesel cost also reduced

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