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Government cuts excise duty on petrol, diesel by Rs 2

The government cut excise duty on petrol and diesel by two rupees. Photograph: (Reuters)

WION Web Team New Delhi, Delhi, India Oct 04, 2017, 01.48 AM (IST)

The government on Tuesday cut excise duty on petrol and diesel by two rupees a litre to protect retail consumers from higher global crude oil prices.

The cut in the petrol and diesel duties will cost $1.99 billion over the next six months, the finance ministry said in a message on Twitter.

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Since August 1, retail prices for petrol have gone up 8.4 per cent and diesel by 6.4 per cent in New Delhi.

"The cut in excise duty has modestly increased the likelihood of fiscal slippage this year," Aditi Nayar, an economist at ICRA, the India arm of credit rating agency Moody's told Reuters.

Petrol Price

             Earlier | Now

Delhi -   70.81  |  68.81

Mumbai - 79.92 |  77.92

Kolkata - 73.55  | 71.55

Chennai - 73.41 | 71.41

Bengaluru - 71.95 | 69.95

*All price in Rs/Ltr

Diesel  Price

      Earlier | Now

Delhi - 59.08 | 57.08

Mumbai - 62.76 | 60.76

Kolkata - 61.74 | 59.74

Chennai - 62.23 | 60.23

Bengaluru - 59.22 | 57.22

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