Govt reduces Central Excise duty on Petrol & Diesel

Speed Post News Network

New Delhi : The Government has decided to reduce the Central Eexcise duty on Petrol and Diesel by Rs 2 per litre effective from October 4, 2017. This measure would help reduce the prices of Petrol and Diesel and giving relief to consumers.

In the past few weeks, the prices of Petrol and Diesel have been rising due to increase in their prices in the international market. The retail selling prices of Petrol and Diesel touched Rs 70.88 per litre and Rs 59.14 per litre respectively in  Delhi on October 3, 2017. As a result of reduction in excise duty, the decrease in prices of Petrol and Diesel will be Rs 2.50 per litre and Rs 2.25 per litre respectively in Delhi, according to a PIB release.

The Government is monitoring the developments in the prices of Petrol and Diesel in the international as well as domestic market. In view of coming agricultural season – harvesting of Kharif crops and sowing of Rabi crops and in the interest of consumers, PM Narendra Modi has taken the decision to  give relief to the farmers and consumers in general, according to the PIB release. The Government stands committed to take all necessary steps to protect the wellbeing of consumers in the country. The state governments are also being requested to make reduction in VAT imposed by them on Petrol and Diesel to give more relief to consumers.