All hands on deck: On Centre’s duty cut on petro products
2 years, 7 months ago

All hands on deck: On Centre’s duty cut on petro products

The Hindu  

The Union government’s decision on Saturday to cut the excise duty on petrol and diesel by ₹8 and ₹6, respectively, is a belated acknowledgement that April’s multi-year highs in inflation were spurred in significant measure by high fuel prices. With the price of the Indian basket of crude oil having risen by more than 33% since November, and with a bulk of the surge coming in the wake of the Ukraine war in February, state-run oil marketing companies had raised retail fuel prices sharply over a 16-day period starting March 22. Largely as a result of the higher fuel prices and quickening food costs, inflation based on the Consumer Price Index accelerated to a 95-month high of 7.8% last month, while wholesale price gains soared to a multi-decade high of 15.1%. giving them space to cut taxes on fuels.” Now that the Centre has acted to ease some of the inflationary pressure emanating from the high excise duty component in fuel prices, the onus is on the States to sink their political differences over the Government’s past approach to taxing fuels and help reduce the burden on the common man by paring their respective State taxes as well.

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History of this topic

Motorists should brace for fuel duty hikes and 'perma-high' petrol costs, AA warns
4 months, 3 weeks ago

Motorists should brace for fuel duty hikes and 'perma-high' petrol costs, AA warns

Daily Mail  

Families, businesses and workers face an era of 'perma-high' road fuel costs, the AA warns. Starmer said he'd supported a freeze 'every single time it has come up' but that 'fuel duty will have to be decided budget by budget' and hasn't categorically ruled out a fuel duty hike If the Treasury increases fuel duty in the Budget on top …

Petrol pumps cap inventory amid hopes of fuel price cut
9 months, 1 week ago

Petrol pumps cap inventory amid hopes of fuel price cut

Live Mint  

New Delhi: Retail fuel pumps across the country are operating with about three days of stock against the usual inventory of five days over the past month amid speculations of a cut in petrol and diesel prices ahead of general elections. Oil marketing companies need to determine retail fuel prices on a daily basis under the dynamic pricing mechanism based …

No diesel, petrol price cut until crude stabilises: Puri
9 months, 2 weeks ago

No diesel, petrol price cut until crude stabilises: Puri

New Indian Express  

NEW DELHI: A day after reducing liquefied petroleum gas cylinder prices by Rs 100 nationwide, petroleum minister Hardeep Singh Puri clarified there are no plans to cut petrol and diesel prices in the domestic market until crude prices stabilise in the international market. The minister cited volatile nature of the international oil market and ongoing under-recoveries by the oil marketing …

No Plans to Cut Petrol, Diesel Prices Ahead of Lok Sabha Polls: Hardeep Singh Puri
11 months, 2 weeks ago

No Plans to Cut Petrol, Diesel Prices Ahead of Lok Sabha Polls: Hardeep Singh Puri

Deccan Chronicle  

New Delhi: Ahead of Lok Sabha polls this year, the probability of a cut in prices of petrol and diesel has been ruled out by the government as Union petroleum minister Hardeep Singh Puri on Wednesday clarified that there’s no proposal to cut fuel prices, while the media reports are ‘speculative’. The statement by the oil minister comes amid several …

Is petrol, diesel price cut happening? Oil minister Hardeep Singh Puri responds
11 months, 3 weeks ago

Is petrol, diesel price cut happening? Oil minister Hardeep Singh Puri responds

India TV News  

Petrol, diesel price cut: Amid reports that petrol, diesel prices may be reduced in the coming days, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri has said that global oil market is in a "highly turbulent" situation and it has to stabilise before any cut. The Union Minister informed, "There has been no discussion with the oil marketing …

Petrol and diesel prices on April 10. Check prices in your city
1 year, 8 months ago

Petrol and diesel prices on April 10. Check prices in your city

Hindustan Times  

The cost of petrol and diesel in India remained stagnant on Monday, continuing a ten-month trend of price stability. Prices were last revised in May 2022 after the Finance minister Nirmala Sitharaman announced to slash the excise duty on petrol and diesel by ₹8 per litre and ₹6 per litre, respectively. The government controls the fuel prices through excise duty, …

RAC urges supermarkets to cut fuel prices as cost of filling up hits Christmas record
2 years ago

RAC urges supermarkets to cut fuel prices as cost of filling up hits Christmas record

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. The organisation also notes that the government’s 5p-per-litre cut …

Government defers plan to impose excise duty on unblended petrol and diesel
2 years, 2 months ago

Government defers plan to impose excise duty on unblended petrol and diesel

The Hindu  

The government has deferred the plan announced in the Union Budget to impose an excise duty of ₹2 on unblended petrol and diesel from October 1, 2022. To encourage the efforts for blending of fuel, unblended fuel shall attract an additional differential excise duty of ₹2 per litre from the 1st day of October 2022," Ms. Sitharaman had stated in …

Retail prices of petrol, diesel may not be cut due to volatile oil market
2 years, 3 months ago

Retail prices of petrol, diesel may not be cut due to volatile oil market

Hindustan Times  

International crude prices may be near a seven-month low but with oil markets still volatile, and state-owned oil refiners having to offset of losses amounting to almost ₹18,500 crore, there’s unlikely to be any change in retail prices of fuel, three people aware of the development said. But the government will review prices of crude oil and petroleum products such …

Oil at six-month low | Petrol at breakeven, losses continue on diesel
2 years, 4 months ago

Oil at six-month low | Petrol at breakeven, losses continue on diesel

The Hindu  

International oil prices have hit a six-month low, helping Indian fuel retailers breakeven on petrol but they continue to lose money on diesel - the most used fuel in the country, officials said. The fall in prices has meant that fuel retailers such as Indian Oil Corporation are now breaking even on petrol but there are some losses on diesel, …

Selling diesel at ₹20-25/litre loss, petrol at ₹14-18/litre loss: private retailers to govt
2 years, 6 months ago

Selling diesel at ₹20-25/litre loss, petrol at ₹14-18/litre loss: private retailers to govt

The Hindu  

Selling diesel at ₹20-25 a litre below cost and petrol at ₹14-18 per litre below cost, as a result of a price freeze despite soaring crude rates is unsustainable, an industry body representing private fuel retailers like Jio-bp and Nayara Energy has told the Oil Ministry and has sought its intervention to create a viable investment environment. On June 10, …

Petrol, Diesel Prices Drop Steeply After Centre Cuts Excise Duty; See Fuel Prices Today
2 years, 6 months ago

Petrol, Diesel Prices Drop Steeply After Centre Cuts Excise Duty; See Fuel Prices Today

News 18  

Petrol, Diesel Price Cut: Petrol price on Sunday, June 5, remained constant for two weeks while diesel price on the day also remained unchanged. Finance minister Nirmala Sitharaman had announced an excise duty cut on petrol and diesel by a record Rs 8 per litre and on diesel by Rs 6 per litre respectively last month as fuel rates hit …

Data Point | Explaining India’s recent fuel tax cuts
2 years, 6 months ago

Data Point | Explaining India’s recent fuel tax cuts

The Hindu  

It’s a relief that the Union government has cut the fuel tax. A look at the developments that preceded the recent excise duty cuts: After weeks of incremental increases in fuel prices, Union Finance Minister Nirmala Sitharaman announced that the Union government is slashing fuel taxes. Her point was that the cut of Rs 8 per litre came from the …

Inflation May Cool Down By This Much Following Petrol, Diesel Excise Duty Cut; Know Details
2 years, 6 months ago

Inflation May Cool Down By This Much Following Petrol, Diesel Excise Duty Cut; Know Details

News 18  

Inflation, which is currently hovering at an eight-year high of around 7.79 per cent, may cool down going forward due to the lowering of petrol and diesel prices following an excise duty cut by the Centre. Prices are still high and instead of inflation of close to 30 per cent for petrol, it will be around 20 per cent,” according …

Petrol, Diesel Duty Cut: Govt May Need To Bridge Revenue Loss Fully Via Market Borrowings
2 years, 6 months ago

Petrol, Diesel Duty Cut: Govt May Need To Bridge Revenue Loss Fully Via Market Borrowings

News 18  

After the Centre cut excise duty on petrol and diesel reducing the fuel retail prices, the government may borrow the entire Rs 1 lakh crore that it will forgo as revenues due to the reduction in levies, according to a report. The government has cut excise duty on petrol by Rs 8 per litre and that on diesel by Rs …

Petroleum dealers demand restoration of ‘dynamic pricing’ system for fuels
2 years, 7 months ago

Petroleum dealers demand restoration of ‘dynamic pricing’ system for fuels

Deccan Chronicle  

Vijayawada: Upping their ante against the Centre for causing a huge loss to them –“nearly Rs 2,000 crore” nation-wide due to the sudden reduction in prices of petrol and diesel, petroleum dealers have sought restoration of the ‘dynamic pricing’ mechanism. The dealers allege that the Centre stopped implementing the dynamic pricing system for fuels for over two months and is …

India trims taxes on fuel, commodities to fight inflation
2 years, 7 months ago

India trims taxes on fuel, commodities to fight inflation

Al Jazeera  

The steps will lead to a drop in annual revenues due to lower collections, raising concerns on India’s fiscal deficit. Finance Minister Nirmala Sitharaman announced on Saturday a cut in excise duty on petrol by 8 rupees per litre and 6 rupees per litre on diesel. The new tax regime on petrol and diesel could result in the government losing …

Many States reluctant to cut fuel tax
2 years, 7 months ago

Many States reluctant to cut fuel tax

The Hindu  

The Maharashtra government pared its value added tax levies on petrol and diesel by ₹2.08 and ₹1.44 per litre respectively on Sunday, a day after criticising the Centre for offering minimal tax cuts after drastic hikes over its tenure, a sentiment echoed by most Opposition-ruled States. After announcing the excise duty cuts on petrol and diesel of ₹8 and ₹6 …

Full Burden of Fuel Excise Duty Cut Is Borne By Centre, Says FM; Compares 2014-22 With 2004-14
2 years, 7 months ago

Full Burden of Fuel Excise Duty Cut Is Borne By Centre, Says FM; Compares 2014-22 With 2004-14

News 18  

Amid the Opposition alleging the central government of slashing excise duty that is shared by states and accusing it of duping people with a “jugglery of figures”, Finance Minister Nirmala Sitharaman on Sunday said the excise duty on petrol and diesel that has been deducted is not shareable with states. SAED,RIC & AIDC are non-sharable.” The finance minister added that …

Uttar Pradesh, other States should slash VAT on petrol, diesel: BSP chief Mayawati
2 years, 7 months ago

Uttar Pradesh, other States should slash VAT on petrol, diesel: BSP chief Mayawati

The Hindu  

With the Centre slashing the excise duty on petrol and diesel, Bahujan Samaj Party chief Mayawati on May 22 said it was the duty of not only Uttar Pradesh but also of other States to immediately announce a cut in VAT on fuel. Petrol price on May 22 was slashed by ₹8.69 a litre and that of diesel by ₹7.05 …

Petrol price down by ₹8.69, diesel by ₹7.05
2 years, 7 months ago

Petrol price down by ₹8.69, diesel by ₹7.05

The Hindu  

Petrol price on Sunday was slashed by ₹8.69 a litre and that of diesel by ₹7.05 per litre following the government's decision to cut excise duty on auto fuels, giving relief to consumers battered by high fuel prices that had pushed inflation to a record high. The government had on Saturday announced a record ₹8 per litre cut in excise …

Excise Cut: Industry, traders urge states to follow suit and bring more relief to consumers
2 years, 7 months ago

Excise Cut: Industry, traders urge states to follow suit and bring more relief to consumers

India TV News  

Excise Cut: India Inc, traders and exporters have welcomed the Centre's move to slash excise duty on auto fuels and urged states to follow suit to provide more relief to consumers. Hailing the decision of reduction in central excise duty on petrol and diesel, reduction in import duty on raw material of steel and plastic and increase in export duty …

Excise cuts make fuel cheaper
2 years, 7 months ago

Excise cuts make fuel cheaper

Deccan Chronicle  

New Delhi: 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. State-owned fuel retailers will pass on the excise duty cut to …

'It is Always People First for Us', Says PM Modi as Govt Announces Fuel Price Cut
2 years, 7 months ago

'It is Always People First for Us', Says PM Modi as Govt Announces Fuel Price Cut

News 18  

As Finance Minister Nirmala Sitharaman announced a sizeable cut in fuel prices, Prime Minister Narendra Modi said on Saturday that people are the first priority of his government. 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 from high …

Always people first for us, tweets PM Modi after fuel rates cut, Congress calls it 'lollipop'
2 years, 7 months ago

Always people first for us, tweets PM Modi after fuel rates cut, Congress calls it 'lollipop'

India Today  

Centre on Saturday, May 21 decided to slash excise duty on petrol and diesel offering some releif amid inflation. Today’s decisions, especially the one relating to a significant drop in petrol and diesel prices will positively impact various sectors, provide relief to our citizens and further ‘Ease of Living.’ https://t.co/n0y5kiiJOh — Narendra Modi May 21, 2022 "It is always people …

'People first for us': PM Modi after finance minister slashes fuel prices, offers LPG subsidies
2 years, 7 months ago

'People first for us': PM Modi after finance minister slashes fuel prices, offers LPG subsidies

Hindustan Times  

Reacting to Union finance minister Nirmala Sitharaman's announcements, particularly those on petrol and diesel, as well as subsidy on gas cylinders, prime minister Narendra Modi on Saturday said the decisions showed that for his government, 'it is always the people first.' “Today's decisions, especially the the one relating to a significant drop in petrol and diesel prices will positively impact …

Petrol, diesel price cut to LPG subsidy to import duty cut: Key announcements
2 years, 7 months ago

Petrol, diesel price cut to LPG subsidy to import duty cut: Key announcements

Live Mint  

Amid the concerns regarding growing prices and inflation, the Centre on Saturday announced several economic relief measures including the lowering the excise duty on petrol and diesel, subsidy for gas cylinders etc. While making the announcements today, finance minister Nirmala Sitharaman said, since prime minister Narendra Modi took office, the government has been devoted to the welfare of the poor. …

Petrol, diesel prices slashed, LPG subsidies: 6 big announcements by FM
2 years, 7 months ago

Petrol, diesel prices slashed, LPG subsidies: 6 big announcements by FM

Hindustan Times  

Petrol and diesel prices were cut Saturday as union finance minister Nirmala Sitharaman made several big-ticket announcements to help relieve the common man of the burden of inflation and rising prices. READ: Centre cuts petrol, diesel excise duties; prices to drop by ₹9.5 and ₹7 > The centre will provide subsidy on LPG cylinders - ₹200 per cylinder - to …

Govt Reduces Excise Duty on Petrol by Rs 8 per Litre, Diesel by Rs 6; PM Says 'It's Always People First for Us'
2 years, 7 months ago

Govt Reduces Excise Duty on Petrol by Rs 8 per Litre, Diesel by Rs 6; PM Says 'It's Always People First for Us'

News 18  

Under pressure, the central government on Friday cut excise duty on petrol by a record Rs 8 per litre and that on diesel by Rs 6 per litre, which will lead to a welcome drop in fuel prices. Today’s decisions, especially the one relating to a significant drop in petrol and diesel prices will positively impact various sectors, provide relief …

'It is always people first for us': PM Modi reacts to price cut on petrol, diesel and LPG
2 years, 7 months ago

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

India TV News  

PM Modi's reaction to petrol, diesel price cut: Soon after Finance Minister Nirmala Sitharaman announced the price cuts on petrol, diesel and LPG, PM Narendra Modi said: "It is always people first for us." In a tweet, the PM added: "Today’s decisions, especially the one relating to a significant drop in petrol and diesel prices will positively impact various sectors, …

Government must cut duty on fuel if global oil prices stay above $100 a barrel: CII’s Narendran
2 years, 7 months ago

Government must cut duty on fuel if global oil prices stay above $100 a barrel: CII’s Narendran

The Hindu  

The government should consider offering some relief to Indian consumers by paring excise duties on petroleum products, if global crude oil prices remain above $100 a barrel, the Confederation of Indian Industry president T.V. “If the oil prices stay about $100, then if there is something that can be done on excise duties, etc. The CII is also mooting a …

Indians hit by ₹1.25 lakh cr in additional taxes: Congress
2 years, 8 months ago

Indians hit by ₹1.25 lakh cr in additional taxes: Congress

The Hindu  

The recent electoral victories have given the BJP “a licence to loot”, the Congress alleged on Saturday as the party gave a break-up of additional taxes to the tune of ₹1.25 lakh crore that have burdened the common people in the new financial year. “The prices of petrol and diesel have gone up by ₹7.20/litre across India with 10 hikes …

Cong Flays Centre Over 'unabated' fuel Price Hikes, Dubs it 'Extortion'
2 years, 8 months ago

Cong Flays Centre Over 'unabated' fuel Price Hikes, Dubs it 'Extortion'

News 18  

The Congress on Wednesday slammed the Centre over “unabated” hike in fuel prices and termed it “extortion” by the Modi government. Congress MP Shashi Tharoor said: “Who told the BJP that drip torture is more saleable to the public than the guillotine?” Till last Tuesday, fuel prices were steady since November 2021 when the Centre reduced excise duty on petrol …

Petrol, diesel prices: Will aam aadmi get relief from high fuel rates?
2 years, 9 months ago

Petrol, diesel prices: Will aam aadmi get relief from high fuel rates?

India Today  

Amid skyrocketing international oil prices, there are apprehensions that petrol and diesel prices across India will go up, pinching the common man's pocket. However, Puri said "the government will in the coming months also take whatever measures we have to, to make sure that our consumer gets relief to the extent we can." INTERNATIONAL OIL PRICES Observing that oil prices …

‘Taking steps to provide relief': Petroleum minister Hardeep Puri on fuel prices
2 years, 9 months ago

‘Taking steps to provide relief': Petroleum minister Hardeep Puri on fuel prices

Hindustan Times  

Union minister for petroleum and natural gas Hardeep Singh Puri told the Rajya Sabha on Monday that the Central government reduced the prices of petrol and diesel on November 5 last year, but it was ‘not followed by 9 states.’ Petrol and diesel prices remained unchanged on March 14 in Delhi, Mumbai, Kolkata, and Chennai. Amid the Russia-Ukraine war, Hardeep …

Petrol, diesel prices to go up by Rs 12 before Holi?
2 years, 9 months ago

Petrol, diesel prices to go up by Rs 12 before Holi?

India Today  

With assembly elections in five states, including Uttar Pradesh, getting over on Monday, there are apprehensions that petrol and diesel prices may be hiked across the country. This comes as international oil prices have reached levels not seen since the 2008 financial crisis as disruption to crude and fuel exports from Russia has left the world short of supply. With …

Why Indian govt may cut tax on petrol, diesel, according to Morgan Stanley
2 years, 9 months ago

Why Indian govt may cut tax on petrol, diesel, according to Morgan Stanley

Live Mint  

Should fuel prices rise sharply due to rise in oil prices, Upasana Chachra of Morgan Stanley in a recent note stated that she expects the Indian government to consider a reduction in fuel excise duty cut to dampen the effect on inflation. However, given that higher oil prices would potentially weigh on growth and tax collection as well, any additional …

Excise duty cut on fuels to pre-pandemic levels to cost govt Rs92,000 cr: ICRA
2 years, 9 months ago

Excise duty cut on fuels to pre-pandemic levels to cost govt Rs92,000 cr: ICRA

Live Mint  

At a time when crude oil prices are surging amid the Russia-Ukraine conflict, a report by ICRA has said that an excise duty cut on fuels to pre-pandemic levels will cost Centre a revenue loss of ₹92,000 crore in FY23. After the partial cut in November 2021, central excise rates on petrol and diesel presently stand at ₹27.9 per litre …

Oil nears $100: Petrol, diesel price hike coming after elections
2 years, 10 months ago

Oil nears $100: Petrol, diesel price hike coming after elections

The Hindu  

International oil prices surged close to $100 a barrel on Tuesday after Russian President Vladimir Putin sent troops into Ukraine, but petrol and diesel prices in India continue to be on freeze and are expected to rise once assembly elections in states like Uttar Pradesh end. Retail pump rates are aligned to a price of $82-83 per barrel and they …

High taxes on petrol, diesel: Now, Puri calls Rahul Gandhi 'jeb katra'
3 years, 1 month ago

High taxes on petrol, diesel: Now, Puri calls Rahul Gandhi 'jeb katra'

India TV News  

Oil Minister Hardeep Singh Puri on Wednesday responded to Congress leader Rahul Gandhi's 'pickpocket' barb at the government over the levy of high taxes on petrol and diesel, and described him as a "jeb katra" who would not understand what capital expenditure is. Gandhi tweeted "jebkatro se savdhan" before the government's November 3 announcement of a Rs 5 per litre …

Fuel price cut in consonance with national mood
3 years, 1 month ago

Fuel price cut in consonance with national mood

New Indian Express  

Strange, but fuel prices have the duality of bringing fortune and misfortune. Interestingly, despite the surging pump prices, an IMF official recently recommended maintaining existing fuel taxes in India, as a reduction disproportionately benefits higher-income households, making it ‘highly regressive’. Truth is, the chasm between headline and household inflation is wide and the Centre’s pick to go with the latter …

Centre's Excise Duty Cut on Petrol, Diesel to Cost Rs 45,000 Cr to Exchequer: Report
3 years, 1 month ago

Centre's Excise Duty Cut on Petrol, Diesel to Cost Rs 45,000 Cr to Exchequer: Report

News 18  

The excise duty cuts on diesel and petrol will cost Rs 45,000 crore and lead to a 0.3 percentage point widening on the Centre's fiscal deficit, a foreign brokerage said on Thursday. Going by the overall consumption, the costs of the surprise move which came after months of concerns over high payouts at filling stations for the entire fiscal will …

Petrol, diesel price cut across country as Centre cuts excise duty, states reduce VAT. Details
3 years, 1 month ago

Petrol, diesel price cut across country as Centre cuts excise duty, states reduce VAT. Details

India TV News  

After Centre cut excise duty followed by several states reducing VAT, petrol price on Thursday was cut in the range of Rs 5.7 to Rs 6.35 per litre across the country and diesel rates by Rs 11.16 to Rs 12.88 as oil companies passed on a record reduction in excise duty rates to consumers. In Delhi, the reduction in petrol …

Petrol price cut by Rs 6.07, diesel by Rs 11.75 per litre in Delhi
3 years, 1 month ago

Petrol price cut by Rs 6.07, diesel by Rs 11.75 per litre in Delhi

India TV News  

Petrol price on Thursday was cut by Rs 6.07 per litre and diesel price by Rs 11.75 in Delhi as oil companies passed on a record reduction in excise duty rates to consumers. Buckling under pressure, the government had on Wednesday cut excise duty on petrol by Rs 5 per litre and that on diesel by Rs 10 a litre …

BJP Lauds Modi Govt's Cut in Petrol, Diesel Prices
3 years, 1 month ago

BJP Lauds Modi Govt's Cut in Petrol, Diesel Prices

News 18  

The BJP on Wednesday hailed the central government's decision to reduce petrol and diesel prices as Prime Minister Narendra Modi's Diwali gift. "I thank @narendramodi Ji's Gov for reducing Excise Duty on Petrol & Diesel on the eve of Diwali by Rs 5 and Rs 10 respectively from tomorrow. The reduction in excise duty on Petrol & Diesel will also …

Cracking News: On eve of Diwali, Centre cuts excise duty on petrol by Rs 5, diesel Rs 10
3 years, 1 month ago

Cracking News: On eve of Diwali, Centre cuts excise duty on petrol by Rs 5, diesel Rs 10

Firstpost  

The release said that states have also been urged to reduce VAT on petrol and diesel to give relief to consumers In a relief to consumers on the eve of Diwali, the Central Government on Wednesday announced a reduction in excise duty on petrol and diesel by Rs 5 and 10 respectively. Govt of India has taken a significant decision …

Central govt slashes excise duty on petrol and diesel by Rs 5 and Rs 10
3 years, 1 month ago

Central govt slashes excise duty on petrol and diesel by Rs 5 and Rs 10

Op India  

Giving some relief to the common man on the eve of Diwali, the central govt had decided to reduce the excise duty on petrol and diesel, which will lead to a cut in the price of both fuels. The Government of India has announced that the excise duty on petrol will be reduced by Rs 5, and the excise duty …

Centre announces massive cuts on petrol, diesel excise duty on Diwali eve
3 years, 1 month ago

Centre announces massive cuts on petrol, diesel excise duty on Diwali eve

Hindustan Times  

In a move to provide a fillip to the economy, the Central government has taken a decision to make significant cuts in excise duty on petrol and diesel starting tomorrow. On the eve of Diwali, the government decided to reduce the central excise duty of ₹5 on petrol and ₹10 on diesel, according to people familiar with the matter. “Today’s …

Petrol price cut by Rs 5, diesel by Rs 10 as govt slashes excise duty
3 years, 1 month ago

Petrol price cut by Rs 5, diesel by Rs 10 as govt slashes excise duty

India Today  

On the eve of Diwali, the Government of India announced a reduction in the excise duty levied on petrol and diesel. The excise duty has been reduced by Rs 5 on petrol and Rs 10 on diesel, effective from Thursday. Read | Fuel that flies you is cheaper than oils that ply you According to a statement by the Centre, …

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