New Delhi – The central government decided to cut the excise duty on petrol and diesel by ₹5 and ₹10, respectively. The government has also appealed to the state governments to extend the relief by reducing VAT on these products. The reduction in petrol and diesel prices will provide a major relief to the ordinary citizens and especially to the farmers in the Rabbi season.
Petrol rates have increased by ₹8.85 over the last 36 days crossing ₹100 per litre in almost every city. Diesel rates also are nearing the ₹100 mark. Price increase in petrol and diesel is adversely affecting inflation. Therefore, the demand for a cut in petrol and diesel prices has gained ground in the last few days.
In Delhi, the Petrol rate is ₹110.04 per litre and diesel is at ₹98.42 per litre. In Mumbai, the petrol and diesel rates are ₹115.85 and ₹106.62 per litre, respectively. The central government had increased the excise duty on petrol and diesel by ₹13 and ₹16 respectively in March and May 2020. But, now, the reduction in the excise duties will help reduce inflation.
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