Price of branded or premium petrol was on Thursday cut by over Rs 5 per litre after Indian Finance Minister Arun Jaitley slashed excise duty on the fuel. FULL COVERAGE:Union Budget
Central Excise duty on Branded Petrol was cut from Rs 7.50 per litre to Rs 2.35 per litre.
Branded petrol, which contains special performance enhancing additives, attracted higher duties than normal petrol.
The removal of excise duty would bring the two fuel at par.
BPCL's premium branded petrol - Speed - costs Rs 83.03 in Delhi while normal petrol is priced at Rs 73.55 a litre. #budgetbt Tweets