Govt cuts excise duty on petrol by Rs 8, diesel by Rs 6

New Delhi, May 21 (PTI) Bowing to public pressure, Finance Minister Nirmala Sitharaman on Saturday announced Rs 8 per litre cut in excise duty on petrol and Rs 6 a litre on diesel to avoid an increase in fuel prices that were necessitated due to surge in international oil prices.

With these cuts in fuel prices, petrol will be cheaper by Rs 9.5 per litre and diesel by Rs 7 per litre.

Also, the government will give Rs 200 per cylinder subsidy to Ujjwala Yojana beneficiaries for 12 cylinders in a year to help ease some of the burden arising from cooking gas rates rising to record levels. 

Price cuts in fuel prices have come in the times when there is pressure on the price of Crude oil in the international market due to ongoing geopolitical situations