After Centre’s appeal, Tripura slash petrol, diesel prices by Rs 5 per litre

Following the central government’s footsteps, key BJP ruled states of Maharashtra, Gujarat, Uttar Pradesh, Tripura, Jharkhand, Chattisgarh, Madhya Pradesh and Himachal Pradesh have announced an additional cut of Rs 2.50 per litre on petrol and diesel bringing the effect reduction to Rs 5 per litre on fuel prices.

Concerned over the spike in fuel prices, finance minister Arun Jaitley announced excise duty cut on petrol and diesel by Rs 1.50 per litre adding that  Oil Marketing Companies (OMCs) will absorb Re 1 per litre on fuel.

The finance minister said that the impact of excise duty cut this year will be Rs 10,500 crore.