Govt slashes excise duty on petrol to Rs 3/litre, exempts diesel

NEW DELHI: (Mar 27) The government has slashed excise duty on petrol to Rs 3 a litre and exempted diesel fully from it to help oil marketing companies like HPCL, BPCL and IOC deal with the rising global crude prices amid the war in the Middle East.

The Finance ministry, in a notification dated March 26, cut excise duty on petrol to Rs 3 a litre, from Rs 13 a litre earlier, while the levy on diesel has been slashed to nil from Rs 10 earlier.

The duty cuts are effective immediately, the ministry said.