Budget 2018: Modi government cuts excise duty on petrol and diesel by Rs 2 per litre

Providing relief to common man over higher fuel prices, government today reduced excise duties by Rs 2 for petrol and diesel.

Government reduced excise duty on branded and unbranded petrol as well as diesel, excise on unbranded petrol has been reduced to Rs. 4.48 per litre from earlier Rs. 6.48 per litre . Excise duty for branded petrol has been slashed to Rs. 5.66 per litre from Rs 7.66 per litre . For unbranded diesel excise duty has been cut to Rs. 6.33 per litre from Rs. 8.33 per litre , while for branded diesel it has been reduced to Rs. 8.69 per litre.

Petrol prices have been constantly rising in past few months and have been touching record high of Rs 80 a litre across the country.


Government has deregulated the fuel prices and has introduced a dynamic pricing system where prices now change on a daily basis based on the global crude oil rates and the demand and supply mechanism.