After Finance Minister Nirmala Sitharaman announced drop-in excise duty on petrol of 8 rupees per litre and diesel of 6 rupees per litre on Saturday, the prices of petrol and diesel have stayed unchanged today.
After considering the impact on other taxes, the excise duty cut will result in a reduction of 9.5 cents per litre on petrol in Delhi and 7 cents per litre on diesel. When the duty cuts take effect today, petrol will cost 96.72 per litre in Delhi, compared to 105.41 currently, and diesel will cost 89.62 per litre, compared to 96.67 currently.
After the reductions in excise tax and VAT, a litre of petrol will cost 111.35 in Mumbai, and a litre of diesel would cost 97.28. Petrol and diesel prices in Chennai are 102.65 and 94.24 per litre, respectively.