Punjab, May 22: In a major relief for the common man, the prices of petrol and diesel dropped in several cities of Punjab on Sunday.
This comes after the Central Government on Saturday reduced the excise duty on petrol by Rs 8 per litre and diesel by Rs 6 per litre.
In Punjab's Jalandhar, the petrol on Sunday costs Rs 96.16 per litre, dropping from Saturday's Rs 104.54 per litre. Meanwhile, the price of diesel dropped from Rs 93. 23 per litre to Rs 86.54 per litre on Sunday.
In Patiala, the price of petrol dropped from Rs 105.01 per litre to Rs 96.62 per litre, while diesel cost Rs 86.97, down from yesterday's Rs 93.67.
Meanwhile, petrol cost Rs 96.39 per litre and the price of diesel in Rs 86.75 per litre in Hoshiarpur on Sunday.
Earlier on Saturday, the Centre announced a reduction in excise duty on petrol by Rs 8 per litre and on diesel by Rs 6 per litre to provide relief to people from high fuel prices.
Taking to Twitter, Union Finance Minister Sitharman made the announcement and said that the move will have a revenue implication of around Rs 1 lakh crore per year. Sitharman, who made several other announcements aimed at curbing inflation said subsidies will be provided on cylinders under the Ujjwala scheme.
She also urged states to also reduce VAT on petroleum products to give relief to the common man.
The Centre had similarly reduced excise duty on petrol and diesel in November last year on the eve of Diwali. The government had reduced excise duty on petrol by Rs 5 a litre and on diesel by Rs 10 a litre.