Petrol, Diesel prices to be reduced by Rs 2.50: Finance Minister Arun Jaitley
New Delhi: Finance Minister Arun Jaitley on Thursday announced that petrol and diesel prices will be reduced by Rs 2.50.
Addressing a press conference, Jaitley said, “Excise duty to be reduced by Rs.1.50 & OMCs will absorb 1 rupee. So, a total of Rs.2.50 will be reduced on both diesel and petrol.”
“We are writing to the state government that as the central government is cutting Rs 2.50 on both petrol & diesel, they do the same,” he added.
The runaway fuel prices had been pinching citizens for the last several months.
The oil price had surged by 23 paise earlier today following which petrol was being sold at Rs. 91.34 per litre in Mumbai. Petrol has already crossed the Rs 92 per litre mark in several districts of Maharashtra as well as Bihar.
Likewise, the diesel crossed the Rs 80 mark for the first time in Mumbai, recording 21 paise rise from the previous hike.