NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Mukesh Ambani
    WhatsApp
    Reliance Jio
    OPPO
    Vivo
    Sensex
    Bitcoin
    NewsBytes
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout


    India Business World Politics Sports Technology Entertainment Auto Lifestyle Inspirational Career Bengaluru Delhi Mumbai Visual Stories Find Cricket Statistics Phones Reviews Fitness Bands Reviews Speakers Reviews

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
     
    Home / News / Business News / Petrol price cut by Rs. 9.5/liter, diesel by Rs. 7/liter
    Business

    Petrol price cut by Rs. 9.5/liter, diesel by Rs. 7/liter

    Petrol price cut by Rs. 9.5/liter, diesel by Rs. 7/liter
    Written by Manzoor-ul-Hassan
    May 21, 2022, 07:43 pm 2 min read
    Petrol price cut by Rs. 9.5/liter, diesel by Rs. 7/liter
    The Centre slashed the central excise duty on fuel, bringing down the prices of petrol and diesel.

    Petrol and diesel prices are set to come down in India as the Centre slashed the central excise duty on fuel on Saturday. Finance Minister Nirmala Sitharaman tweeted the government is reducing the central excise duty on petrol and diesel by Rs. 8/liter and Rs. 6/liter, respectively. This will reduce the petrol and diesel prices by Rs. 9.5/liter and Rs. 7/liter, respectively, she noted.

    Move to bring down prices of key commodities

    The move is also expected to bring down the skyrocketing prices of key commodities amid the rising inflation. Notably, prices have risen globally following the Russia-Ukraine war and supply chain disruptions. India's wholesale and consumer prices climbed at a record-high rate in April this year. This pushed the Reserve Bank of India (RBI) to raise interest rates during an unexpected policy meeting this month.

    Subsidy on gas cylinders also announced

    The government would also provide a subsidy of Rs. 200 per LPG cylinder to Ujjwala Yojana beneficiaries for 12 cylinders in a year, said the finance minister. The move will help alleviate some of the hardship caused by the increased cooking gas prices, Nirmala Sitharaman added. According to her, the gas cylinder subsidy will result in a "revenue impact of roughly Rs. 6,100 crore."

    What will be the fuel prices now?

    Petrol is currently retailing for more than Rs. 100 in most parts of the country. To note, petrol in Delhi will cost Rs. 95.91/liter starting Sunday, down from the current price of Rs. 105.41/liter. Similarly, diesel will cost Rs. 89.67/liter, down from the existing Rs. 96.67/liter. Owing to value-added tax (VAT), however, the fuel rates differ from state to state.

    Share this timeline
    Facebook
    Whatsapp
    Twitter
    Linkedin
    Latest
    Petrol Diesel Prices
    Nirmala Sitharaman
    LPG Cylinder

    Latest

    NASA's Chandra Observatory captures chaotic galaxy merger National Aeronautics and Space Administration
    Asaram Bapu sentenced to life imprisonment in 2013 rape case Asaram Bapu
    Airtel 5G launched in more cities across Andhra Pradesh, Telangana Bharti Airtel
    Allu Arjun's 'Ala Vaikunthapurramuloo' Hindi dubbed version releasing on YouTube Allu Arjun

    Petrol Diesel Prices

    Pakistan hikes petrol, diesel prices by PKR 35/liter amid crisis Pakistan
    Commercial LPG cylinders costlier by Rs. 25; Congress slams Centre  LPG Cylinder
    Rajasthan: Petrol pump offers discount on fuel against single-use plastic Rajasthan
    Maharashtra: Petrol, diesel become cheaper. Check new rates Maharashtra

    Nirmala Sitharaman

    What President Droupadi Murmu said during her first Parliament address Droupadi Murmu
    Budget Session: Nirmala Sitharaman tables 2023 Economic Survey in Parliament Budget Session
    Parliament Budget Session begins; President Murmu calls government fearless, decisive Parliament
    Finance Minister Nirmala Sitharaman to present 2023 Economic Survey today Union Budget

    LPG Cylinder

    Commercial LPG cylinder price reduced by Rs. 115.5 in Delhi Ministry of Petroleum and Natural Gas
    Commercial LPG cylinder prices slashed by Rs. 25.50; details here Indian Oil Corporation Limited
    Domestic LPG increases by Rs. 50/cylinder; third hike since May Mumbai
    New LPG subsidy rules: Check eligibility, subsidy amount, other details India

    Love Business News?

    Subscribe to stay updated.

    Business Thumbnail
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2023