Petrol, diesel excise duty may be cut Rs 2-4/litre; PMO to take final call

Petroleum Minister Dharmendra Pradhan is expected to meet oil-marketing companies on Wednesday to take stock of the situation

The Prime Minister’s Office (PMO) will take a final call on a cut in the excise duty on petrol and diesel, according to senior officials, with surging fuel prices creating ripples among consumers and politicians alike. The cut is likely to be in the range of Rs 2 to Rs 4 a litre, they added.

Petrol and diesel prices touched new highs of Rs 76.87 and Rs 68.08 a litre, respectively, in Delhi on Tuesday. In the Mumbai market, prices of petrol at Rs 84.70 a litre and diesel at Rs 72.48 were the highest ever. 

Petroleum Minister Dharmendra Pradhan