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Petrol and diesel prices reduced by Rs 2.50; FM Arun Jaitley announces excise duty cut

Reported by : India TV News Desk [ Updated: October 04, 2018 17:30 IST ]

Finance Minister Arun Jaitley has announced that the Modi Government has decided to provide the relief against the backdrop of surging crude oil prices, which was at a four-year high of $86 a barrel. Announcing the decision to cut excise duty by Rs 1.5 per litre, while asking oil companies to absorb the loss of Rs 1 per litre, Jaitley also requested state governments to provide relief to consumers.