New Delhi: The general public is worried about the high prices of petrol and diesel in the country. But, people can get great relief in the coming days. This is because the central government can reduce the tax on corn and oil. If the government does this, it will bring down the price of petrol and diesel. According to a report, the central government may take this step under the recommendations made by the central bank to reduce rising inflation.

According to the report, the final decision on this will be taken only after the CPI-based inflation figures for the month of February are out. According to IIFL Vice President Anuj Gupta, the government can reduce excise duty from Rs 7 to Rs 10. After this, the price of petrol and diesel can be reduced by Rs 5 to 7 per liter. Anuj Gupta has further told that the price of petrol and diesel will also depend on how much the OMC transfers the excise duty cut by the government to the consumer.

Let us inform you that, earlier on May 21, 2022, Union Finance Minister Nirmala Sitharaman had reduced the excise duty on petrol by Rs 8 and on diesel by Rs 6 per liter. Due to this, a drop in the price of petrol in the country by Rs 9.5 per liter and diesel by Rs 7 per liter was noted.

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