Centre cuts excise duty on petrol by ₹8 per litre, diesel by ₹6: Sitharaman

The Centre has decided to reduce the central excise duty on petrol by ₹8 per litre and on diesel by ₹6 per litre, Union finance minister Nirmala Sitharaman said on Saturday. The move will reduce the price of petrol by ₹9.5 per litre and of diesel by ₹7 per litre, she added.

"It will have a revenue implication of around ₹1 lakh crore per year for the government," the finance minister said in a series of tweets.

Sitharaman also urged state governments to implement a similar cut.

"I wish to exhort all state governments, especially the states where reduction wasn't done during the last round (November 2021), to also implement a similar cut and give relief to the common man," she tweeted.