Excise duty cut: Petrol price slashed by Rs 8.69/litre, diesel by Rs 7.05/litre

NEW DELHI: Petrol price on Sunday was slashed by Rs 8.69 a litre and diesel by Rs 7.05 per litre following the government cutting excise duty on auto fuels to give relief to consumers battered by high fuel prices that has also pushed inflation to record high.
The government on Saturday announced a record Rs 8 per litre cut in excise duty on petrol and Rs 6 per litre reduction on diesel.
The excise duty cut will translate into a reduction of Rs 8.69 a litre on petrol in Delhi and Rs 7.05 per litre in diesel after taking into account its impact on other levies.
Petrol in the national capital now costs Rs 96.72 a litre as against Rs 105.41 previously. Diesel is now priced at Rs 89.62 per litre as opposed to Rs 96.67 earlier, a price notification from state-owned fuel retailers showed.