Three weeks after retail fuel prices did not relent despite the oil minister Dharmendra Pradhan predicting an easing out, the government cut basic excise duty on petrol and diesel by Rs 2 per litre in a move to provide some respite to the people from the inflationary impact. The cut in the excise duty is effective from today, Wednesday, 4 October 2017. Markets and minister Earlier last week, FE Online had reported how petrol and diesel prices have continued to rise despite oil minister Dharmendra Pradhan having said two weeks ago that the retail fuel prices would ease out in few days. Since 13 September, petrol price in Delhi had risen by 50 paise per litre, and was at Rs 70.88 per litre in the capital as of yesterday, 3 October, 2017. The price of diesel has also seen a similar rise of 42 paise per litre since 13 September. Diesel was being sold in Delhi at Rs 59.14 per litre yesterday. The price of petrol in Mumbai, which hit Rs 79.99 per litre yesterday, was near the levels last seen in August 2014 in the country's financial capital. The government intervention seems to have stopped it just short hitting the Rs 80 per litre mark, at least for now. Similarly, the price of diesel was at three-year highs in the metro cities of Kolkata and Chennai at Rs 61.80 and Rs 62.30 per litre respectively.
 

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This is the good news for us petrol prices less down by 2 rupees

Pradeep Kumar

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Wow good news

Petter

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~!@#!`2

Petter

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