The public got relaxed after Finance Minister Nirmala Sitharaman announced a cut in excise duty on petrol by 8 per litre, and 6 rupees per litre on diesel on Saturday. After taking into consideration the impact on other taxes, the excise duty drop will result in a reduction of Rs 9.5 per litre on petrol and Rs 7 per litre on diesel in Delhi. When the excise cuts take effect today, the price of petrol in Delhi will be 96.72 per litre, down from 105.41, and diesel will be 89.62 per litre, down from 96.67.
The Maharashtra government slashed the value-added tax (VAT) on petrol and diesel on Sunday, a day after the central government announced a drop in fuel costs. The VAT on petrol has been decreased by 2.08 per litre, while the VAT on diesel has been reduced by 1.44 per litre.