• search
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Petrol, diesel prices cut by Rs 2.50 after excise reduction

|

New Delhi, Oct 4: Finance Minister Arun Jaitley announced that the Centre would cut excise duty by Rs 2.50 on petrol and diesel.

Arun Jaitley

Jaitley said, "Excise duty to be reduced by Rs.1.50 & OMCs will absorb 1 rupee. So, a total of Rs.2.50 will be reduced on both diesel and petrol."

"We are writing to the state governments that as the central govt is cutting Rs 2.50 on both petrol and diesel, they do the same," he said.

Chanda Kochhar resigns as ICICI Bank's CEO, Sandeep Bakhshi replaces her

Jaitley said the excise duty cut would have an impact of Rs 10,500 crore on central government's tax revenues. He also asked state governments to follow suit by cutting a sales tax or VAT by a similar amount. The reduction followed petrol and diesel prices touching new highs.

Petrol, Diesel price rise again: Check today's rates in metro cities

He said, "World crude oil prices are on the rise, yesterday it hit the highest in the last 4 years."

Jaitley maintained that despite this cut in excise duty it would not affect the government's fiscal deficit target.

Petrol and Diesel prices in Delhi are Rs 83.99 per litre (increase by Rs 0.15) & Rs 75.45 per litre (increase by Rs 0.20), respectively. While in Mumbai, Petrol & Diesel prices are Rs 91.34 litre (increase by Rs 0.14) & Rs 80.10 (increase by Rs 0.21), respectively.

lok-sabha-home

For Daily Alerts

For Breaking News from Oneindia
Get instant news updates throughout the day.

Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X

Loksabha Results

PartyLWT
BJP+1353354
CONG+09090
OTH09898

Arunachal Pradesh

PartyLWT
BJP23436
JDU077
OTH11112

Sikkim

PartyWT
SKM1717
SDF1515
OTH00

Odisha

PartyWT
BJD112112
BJP2323
OTH1111

Andhra Pradesh

PartyLWT
YSRCP0151151
TDP02323
OTH011

WON

Dr. Sanjeev Kumar - YSRCP
Kurnool
WON
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more