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Central excise duty on Petrol and Diesel reduced by Rs 2 per Litre effective October 4, 2017

The Government has decided to reduce the Central Excise duty on Petrol and Diesel by Rs 2 per Litre effective from the October 4, 2017. This measure would help reducing the prices of Petrol and Diesel and giving relief to consumers. This follows the sharp criticism of the opposition that prices of petroleum products in the domestic market are sky rocketing while there has been a slump in international oil prices.

In the past few weeks, the prices of Petrol and Diesel have been rising and have touched a peak during the last two weeks. The retail selling prices of Petrol and Diesel have touched Rs 70.88 per/ litre and Rs 59.14 per litre respectively at Delhi on October 3, 2017. The prices in other metropolitan cities are still higher due to state levies.

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 at Delhi.

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, the central government has taken the decision for giving relief to the farmers and consumers in general. The Government stands committed to take all necessary steps to protect the wellbeing of consumers in the country.

State Governments are also being requested to make reduction in VAT imposed by them on Petrol and Diesel so as to give more relief to consumers.


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