New Delhi
Petrol and diesel prices will come down from tomorrow as the Centre reduced basic excise duty rate on petrol and diesel by Rs 2 per litre.

The move follows as the government was facing flak for continuous rise in petrol and diesel prices despite a fall in their rates internationally.

The Finance Ministry said the annual revenue loss on account of the Rs 2 cut would be about Rs 26,000 crore and about Rs 13,000 crore in the remaining part of the current fiscal. The current excise duty on petrol is Rs 21.48 per litre while that on diesel is Rs 17.33 per litre. The government said the decision had been taken to protect the interests of the common man.