Latest Updates On Petrol and Diesel Price – Centre Reduced Rs 2.50 per Litre:
The Finance minister of India Arun Jaitley had reported on 4th October 2018, Thursday that the Union Government is effecting Rs 1.50 cut on excise duty on petrol & diesel and oil marketing companies (OMCs) to make deduction of Re 1 per litre on petrol and diesel.
The government has given great relief to the general public by hitting petrol and diesel. Given the steady increase in prices of petrol and diesel, the central government has decided to reduce excise duty by Rs. 1.50 per liter on petrol and diesel. In this way, the public will get 2.50 paise of relief. The public is worried by the increased prices of oil, but now the government concerned with the rising prices of petrol and diesel was contemplating the options to prevent adverse impact on its economy.
Today Finance Minister Arun Jaitley announced a reduction in excise duty on oil by a press conference. Earlier, the Petroleum Secretary met Finance Minister Arun Jaitley and the Finance Secretary to discuss ways to provide relief to the increased prices of petrol prices. Earlier there were reports that the Finance Minister can declare reduction in excise duty to provide relief to the public. Following the Cabinet meeting on Wednesday, discussions on Prime Minister Narendra Modi, Finance Minister and Petroleum Minister Dharmendra Pradhan had discussed ways to relieve the public. Please tell us that on Thursday, prices of 15 paise and 20 paise per liter respectively were recorded.
The Finance Minister said that the state governments also reduced the prices so that people get relief of Rs. 5. He said that the state governments also give relief to the people. Central government has given major relief to the petrol and diesel. Excise duty on oil decreased by Rs. 1.50, consumers will get relief of Rs. 2.50
Diesel is currently being sold at a higher price. This is the most used in agriculture. From the tractor to the pumpset of irrigation, they run from the diesel to collect the fields. Hence, due to the cost of diesel, it is inevitable to have an impact on the farmers. It is believed that the two ministers discussed the increasing international prices of crude oil and the impact of rupee fall on the lower levels.