Government cuts excise duty on petrol and diesel

NEW DELHI (Reuters) - The government on Tuesday cut excise duty on petrol and diesel by two rupees a litre to protect retail consumers from higher global crude oil prices, the government said.

The new excise duty will be effective from Oct. 4, the Finance Ministry said in a message on Twitter.

The finance ministry had earlier ruled out lowering excise duties on petroleum products, citing pressure on government finances.

(Reporting by Manoj Kumar; editing by Alexander Smith)