Petrol, diesel to be cheaper by Rs. 9.5 and Rs. 7

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The price of petrol will come down by Rs. 9.5, while the diesel will be cheaper by Rs. 7 as the government announced a sharp cut in central excise duty on fuel prices on Saturday.

Reports reaching said that the central excise duty on petrol has been cut by ? 8 per litre and the same on diesel has been cut by Rs. 6 per litre.

This was stated by Union Finance Minister, Nirmala Sitharaman on her official Twitter handle.

She said that government will lose Rs. 1 lakh crore by taking the cut on central excise duties.

She also exhorted upon states to implement a similar cut and pass on the benefit to the common man.

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