NEW DELHI: The petrol prices will be reduced by Rs 9.5 per litre while diesel will cost Rs 7 cheaper as the Centre on Saturday announced a series of measures to help the common man.
Finance minister Nirmala Sitharaman tweeted that the Centre has decided to extend relief to the poor and common man amid growing inflation in the country.

“We are reducing the Central excise duty on Petrol by Rs 8 per litre and on Diesel by Rs 6 per litre. This will reduce the price of petrol by Rs 9.5 per litre and of Diesel by Rs 7 per litre,” she said.
The minister said the move will have revenue implication of around Rs 1 lakh crore/year for the government.

Reacting to the announcement, Prime Minister Narendra Modi said that it is always “people first” for his government. “This significant drop in petrol and diesel prices will positively impact various sectors, provide relief to our citizens and further ‘Ease of Living,” he added.

Sitharaman also urged the state governments to implement a similar cut on fuel prices, especially the ones where the reduction wasn’t done during the last round in November 2021.

Additionally, Sitharaman said the Centre will give a subsidy of Rs 200 per gas cylinder (up to 12 cylinders) to over 9 crore beneficiaries of the Pradhan Mantri Ujjwala Yojana.

“This will help our mothers and sisters. This will have a revenue implication of around Rs 6100 crore a year,” she said.
Watch Petrol price slashed by Rs 9.5 per litre, diesel by Rs 7 per litre as Centre cuts excise duty