Petrol, Diesel prices to reduce by Rs 9.5 as centre reduces excise duty

Srinagar, May 21 (ANH): In a major announcement, the Centre on Saturday said it is reducing the Central excise duty on petrol by Rs 8 per litre and on diesel by Rs 6 per litre.

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“This will reduce the price of petrol by Rs 9.5 per litre and of Diesel by Rs 7 per litre,” said Union Finance Minister Nirmala Sitharaman

New Delhi: Bowing to public pressure, Finance Minister Nirmala Sitharaman on Saturday announced a Rs 8 per liter cut in excise duty on petrol and Rs 6 a litre on diesel to avoid an increase in fuel prices that were necessitated due to surge in international oil prices.

Also, the government will give Rs 200 per cylinder subsidy to Ujjwala Yojana beneficiaries for 12 cylinders in a year to help ease some of the burden arising from cooking gas rates rising to record levels.

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