According to media sources, The government today said that domestically, Petrol came down to 94.77 rupees and diesel prices to 87.67 rupees per litre in Delhi, following a reduction of Central Excise duty since November 2021. In a written reply in Lok Sabha, Minister of State for Petroleum and Natural Gas Suresh Gopi said that the government has been taking various steps to ensure fair and reasonable prices for consumers.
The prices of petrol have decreased from 110.04 rupees and Diesel prices from 98.42 rupees per litre in November 2021, following a total reduction of 13 rupees per litre on petrol and 16 rupees per litre of diesel in two tranches in November 2021 and May 2022. He added that some State Governments also reduced state VAT rates to provide relief to citizens. In March this year, Oil Marketing Companies also reduced the retail prices of petrol and diesel by 2 per litre rupees each, across the country.
Mr Gopi mentioned that the government has taken several other steps to insulate citizens from high international prices, including diversifying the crude import basket, and windfall taxes on export of petroleum products among others.
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