Fuel Prices Expected To Come Down, Excise Duty Slashed

New Delhi: In a major relief to consumers, the government slashed excise duty on petrol and diesel in the Union Budget presented on Thursday.

The excise duty was reduced from Rs 6.48 to Rs 4.48 on unbranded petrol. Similarly, for branded petrol the reduction was from Rs 7.66 to Rs 5.66. The biggest cut was in branded diesel which saw excise duty cut to Rs 8.69 per litre. The reduction in excise duty across various fuels is expected to bring down the prices of petrol and diesel, thereby bringing relief to consumers.