After the constant rise in petrol and diesel costs in the country over the previous few months, this is a huge relief for the common man. The Finance Minister announced today that the prices of petrol and diesel will be reduced by reducing the excise duty of Rs 8 per litre and Rs 6 per litre, respectively. The excise charge on these fuels has been decreased.
“The Central Excise Duty on Petrol and Diesel would be reduced by Rs 8 per litre and Rs 6 per litre, respectively. According to Union Finance Minister Nirmala Sitharaman, this will lower the price of petrol by Rs 9.5 a litre and diesel by Rs 7. “
The Ukraine conflict and global supply chain disruptions have pushed prices higher, breaking long-standing inflation records not only in India but around the world.
