Petrol, Diesel Prices To Reduce By Rs 5 And Rs 10 Respectively From Tomorrow; Diwali Gift From Modi Government

Pune, 3rd November 2021: On the eve of Diwali, the Government of India has announced an excise duty reduction on petrol and diesel. Excise duty on Petrol and Diesel will be reduced by Rs 5 and Rs 10 respectively from tomorrow.

Petrol price in Pune is Rs 115.52 per litre and diesel price is Rs 104.67 per litre.

In recent months, crude oil prices have witnessed a global upsurge. Consequently, domestic prices of petrol and diesel had increased in recent weeks exerting inflationary pressure. The world has also seen shortages and increased prices of all forms of energy. The Government of India has made efforts to ensure that there is no energy shortage in the country and that commodities such as petrol and diesel are available adequately to meet our requirements.

Driven by the enterprising ability of India’s aspirational population, the Indian economy has witnessed a remarkable turnaround post the COVID-19 induced slowdown. All sectors of the economy – be it manufacturing, services or agriculture – are experiencing significant upward economic activity.

To give a further fillip to the economy, the Government of India has decided to significantly reduce the excise duty on diesel and petrol.

The reduction in excise duty on Petrol and Diesel will also boost consumption and keep inflation low, thus helping the poor and middle classes. Today’s decision is expected to further spur the overall economic cycle.

“States are also urged to commensurately reduce VAT on Petrol and diesel to give relief to consumers”, central government stated in a press release.

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