Petrol and Diesel price cut, after great step by central government

The central government has taken important steps after the controversy over the rising prices of petrol and diesel. The government has reduced the basic excise duty from petrol and diesel, giving a big relief, which has reduced prices of petrol and diesel by two rupees per liter. This new rate will be effective from midnight on Tuesday. There was a lot of pressure on the government to reduce the price of petrol and diesel.

Govt of India has reduced the Basic Excise Duty on Petrol & Diesel [both branded and unbranded] by Rs. 2 per liter w.e.f. 4th October, 2017

- Ministry of Finance (@FinMinIndia) October 3, 2017

This step has been taken in view of the increase in fuel prices over the last three months. "The Indian government has cut the basic excise duty on petrol and diesel (branded and unbranded) by two rupees per liter," the Finance Ministry said in the information provided by Tevar. This reduction in excise duty will be effective from October 4. 'Petrol and diesel prices will be reduced in comparison to the excise duty reduction.

Petrol and diesel prices were on the rise

In the last three months, prices of petrol and diesel were seen to be tremendous, not only the opposition, but the NDA allies Shiv Sena also targeted the government. Shiv Sena chief Uddhav Thackeray had even said that cheaper petrol and diesel than India is being sold in Pakistan. It is believed that the rise in the price of petrol is not only responsible for the rise in crude oil prices, but also the tax imposed by the government on this is also a reason.

Rs. 21.48 Excise Duty in 1 liter Petrol

On petrol, the government currently imposes a total excise duty of Rs 21.48 per liter, while in diesel it is Rs 17.33 per liter. Since year 2014, the central government has increased excise duty on petrol by 126%. At the same time, the duty on diesel has increased by 374 per cent. This is the reason why for some time the prices of crude oil have not been able to meet the common man even after the decline.

Increase in crude oil prices in the global market

Given the softening of the price of crude oil globally, three years ago, the fee was increased to take advantage of it. Now there was criticism about the fact that it is not cutting the excise duty, while the price of fuel is increasing steadily since the beginning of July. From July 4, the price of petrol has increased by Rs 7.8 a liter, while the price of diesel has risen 5.7 rupees to the highest level.

Price of petrol and diesel till 12 noon

On Tuesday, the price of petrol was Rs 70.88 per liter in Delhi, Rs 73.62 in Kolkata, Rs 79.99 in Mumbai, Rs 73.48 in Chennai, Rs 71.07 in Chennai, Rs 70.83 in Gururgram, 72.93 in Noida, 72.82 in Ghaziabad. At the same time, diesel was priced at Rs 59.14 per liter in Delhi, Rs 61.80 in Kolkata, Rs 62.82 in Mumbai, Rs 62.3 in Mumbai, Rs 59.64 in Chennai, Rs 59.42 in Faridabad, 60.18 in Noida, 60.07 in Ghaziabad.