Day after cut in excise duty, petrol cheaper by over Rs 8, diesel by Rs 7 per litre | Revised rates

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Petrol Diesel Price Today: A day after Union Finance Minister Nirmala Sitharaman announced a cut in the excise duty on petrol and diesel prices, the price of petrol has been cut down by Rs 8.69 per litre, and diesel price has been cut down by Rs 7.05 per litre. Buckling under pressure, the government on Saturday cut excise duty on petrol by a record Rs 8 per litre and that on diesel by Rs 6 per litre to give relief to consumers battering under high fuel prices that have also pushed inflation to a record high.

In the national capital, the excise duty cut will result in a reduction of Rs 9.5 a litre on petrol and Rs 7 a litre in diesel after taking into account its impact on other levies. 

Petrol price in Delhi from Sunday, when the excise cuts become effective, will cost Rs 95.91 a litre as against Rs 105.41 a litre currently while diesel will cost Rs 89.67 a litre as opposed to Rs 96.67 now.

In Mumbai, petrol rates have been slashed to Rs 111.35 a litre from Rs 120.51 while diesel rates have come down to Rs 97.28 per litre from Rs 104.77. Rates differ from state to state depending on the incidence of local taxes such as VAT.

Also Read: 'It is always people first for us': PM Modi reacts to price cut on petrol, diesel and LPG

Petrol now costs Rs 106.03 a litre in Kolkata (earlier Rs 115.12) and Rs 102.63 in Chennai (previously Rs 110.85). Diesel is priced at Rs 92.76 a litre in Kolkata (previously Rs 99.83) and Rs 94.24 in Chennai (earlier Rs 100.94).

Announcing the duty cut through tweets, Finance Minister Nirmala Sitharaman also said the government will give Rs 200 per cylinder subsidy to poor who got cooking gas connection under the Ujjwala scheme, for 12 cylinders in a year to help ease some of the burden arising from cooking gas rates rising to record levels.

Also Read: Don't fool public: Congress slams govt on petrol, diesel price cut