Fuel prices down sharply in one day..!

Today, petrol price was reduced by Rs 8.22 a liter and diesel by Rs 6.70 a liter. The Union Finance minister yesterday reduced the excise duty on petrol and diesel. As a result, petrol and diesel prices have changed today. Accordingly, a liter of petrol is being sold at Rs 102.63 today. Similarly, diesel is being sold at Rs 94.24 per liter. Today, all motorists would be happy where petrol price has been reduced by Rs 8.22 for a liter and diesel by Rs 6.70 for a liter.Earlier yesterday, Finance minister Nirmala Sitharaman had said that excise duty on petrol and diesel would be reduced across India. He also announced an excise duty cut on petrol which is reduced by Rs 8 and diesel reduced by Rs 6.The sharp rise in petrol and diesel prices over the past few months has caused great distress to the public, as the public has been suffering for the past two years due to the coronavirus. The government reduced the tax on petrol by Rs 3 and brought the price of petrol below Rs 100.
However, as a result of the price hike again, petrol prices in chennai have been selling at Rs 110 for the last 40 days.

In this context, motorists are sighing with relief as the tariff on petrol and diesel has been slashed and the price of petrol and diesel has been drastically reduced. What is the reason for this reduction? prime minister Modi has said that the decision was taken in the interest of the people.

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