Saturday’s cut on excise duty will reduce the price of petrol by ₹ 9.5 per litre and of diesel by ₹ 7 per litre after taking into account its impact on other levies.
New Delhi: Fuel prices will come down from tomorrow with the central government cutting the excise duty on petrol and diesel. Finance Minister Nirmala Sitharaman today announced a record cut of ₹ 8 per litre of petrol and ₹ 6 per litre on diesel. The move comes a month after inflation surged to an eight-year high in April and is aimed at giving relief to consumers.
The excise duty hikes of 2020 had taken central taxes on petrol to their highest level of ₹ 32.9 per ltire and that on diesel to ₹ 31.8 a litre.
Saturday’s cut on excise duty will reduce the price of petrol by ₹ 9.5 per litre and of diesel by ₹ 7 per litre after taking into account its impact on other levies.
Currently, petrol is retailed at ₹ 120.51 per litre in Mumbai, while diesel is sold at ₹ 104.77.
From Sunday, the petrol price in Mumbai will fall to ₹ 111.01 per litre, while diesel will cost ₹ 97.77 per litre.
Petrol price in Delhi will cost ₹ 95.91 a litre from tomorrow as against ₹ 105.41 a litre currently while diesel will cost ₹ 89.67 a litre as opposed to ₹ 96.67 a litre now.
In Kolkata, the petrol price on Sunday will come down to ₹ 105.62 a litre from ₹ 115.12. Diesel price in Kolkata will fall to ₹ 92.83 a litre.
Petrol price in Chennai will cost ₹ 101.35 a litre from tomorrow as against ₹ 110.85 currently while diesel will cost ₹ 93.94 a litre as opposed to ₹ 100.94 now.
Petrol and diesel prices are updated every day at 6 am. The new rates will come into effect from 6 am onwards on Sunday.
