Petrol, diesel prices likely to come down from today



Image result for Petrol, diesel prices likely to come down from Wednesday

New Delhi, Oct 3: Prices of transportation fuels -- petrol and diesel -- are expected to come down on today in the wake of the government reducing the excise duty levied on both by Rs 2 per litre.



As per the Ministry of Petroleum and Natural Gas's calculations, the reduction in excise duty will decrease prices of petrol and diesel by Rs 2.50 and Rs 2.25 per litre respectively in New Delhi. 



"This measure would help reducing the prices of petrol and diesel and giving relief to consumers," the Ministry said in a statement.



"As a result of reduction in excise duty, the decrease in prices of petrol and diesel will be Rs 2.50 per litre and Rs 2.25 per litre respectively at Delhi." 



In effect, the government decision will act as a check against retail prices going up in case global crude rates rise further. 



Earlier, informed sources here had said that the reduction in retail prices will "likely be reflected" from Wednesday morning.



The three state-owned oil marketing companies (OMCs) -- Indian Oil, Bharat Petroleum Corporation and Hindustan Petroleum Corporation -- revise prices of petrol and diesel on a daily basis and these are announced at 6 a.m.



Currently, an excise duty component of Rs 21.48 per litre is levied upon petrol -- and, consequent to the reduction in excise duty, this will come down to Rs 19.48.



In case of diesel, Rs 17.33 excise is charged per litre -- this will come down to Rs 15.33 per litre.



On October 3, Tuesday, the retail selling price of petrol in New Delhi was pegged at Rs 70.88, while that for diesel was at Rs 59.14 per litre.

 

IANS

Don’t Miss

RaGa tears into NaMo..Why is chowkidar saheb silent on mama bhanja loot
PM Modi's GIFT..a Palace Queen Humsafar Express..Know train details
40 'Mama-Bhanja' locations raided for Rs 114000000000-scam
Why nervous Twitter officials came to meet Amitabh Bachchan?
Furious Salman refuses to forgive this singer!
Shocking! Big B applies for JOB...here's the proof
'India's most dangerous filmmaker' says he wants to shock, disturb people with his work
This is how Priya Varrier defeated Sunny Leone with a wink
Apply for police inspector job, salary Rs 35 thousand
Congress MLA's son has surrendered allegedly for thrashing a man
Sensex slips below 34k level, down 131 points in early trade
Goa assembly session to be cut short due to Parrikar's illness
This former top cricketer-turned-politician marries for the third time
Army foils infiltration bid, kills militant
4 killed in Russia church shooting
Both CPI-M, BJP confident of Tripura election victory
South Africa to bowl against India in 1st T20I
Another banking fraud out in the open, bring out white paper on banking system, says Congress
Successful NDA alliance due to roots of democracy in BJP: PM Modi
Trump slams FBI over Florida school shooting
Job seekers protest at Bihar railway stations
Moderate polling in Tripura Assembly elections
Iran plane crash: 66 people killed
Big B's interesting job application to work with Deepika, Katrina
BIG news: Maha to launch CHEAP sanitary pad scheme
Now, this company offering more DATA on postpaid plans
PNB case: Will take appropriate supervisory action, says RBI
This mobile company registered HUGE 217% growth in India
White House continues to deny Russia collusion
Florida school shooting survivors call for tougher gun laws

Most Popular