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Petrol price slashed by Rs 8.69, diesel by Rs 7.05 as centre cuts excise duty

e excise duty cut will translate into a reduction of Rs 8.69 a litre on petrol in Delhi and Rs 7.05 in diesel per litre after taking into account its impact on other levies.

Finance minister Nirmala Sitharaman on May 21 tweeted that as a result of the excise duty cuts, the retail prices will come down by Rs 9.5/ litre for petrol and by Rs 7/litre on diesel. (Reuters)

As much respite to Indian consumers, battling high fuel prices, the government of India decided to cut petrol and diesel prices by Rs. 8.69 per litre and Rs. 7.05 per litre respectively. The action has been taken following the centre’s decision to cut excise duty on auto fuels, 

The government had on Saturday announced a record Rs 8 per litre cut in excise duty on petrol and Rs 6 reduction on diesel.

The excise duty cut will translate into a reduction of Rs 8.69 a litre on petrol in Delhi and Rs 7.05 in diesel per litre after taking into account its impact on other levies.

Petrol in the national capital Delhi, now costs Rs 96.72 a litre as against Rs 105.41 previously. Diesel is now priced at Rs 89.62 per litre as opposed to Rs 96.67 earlier, a price notification from state-owned fuel retailers showed.

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.

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).

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