Budget 2014: Branded Petrol Price Cut by Over Rs 5 Per Litre

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. 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 differential excise duty led to huge difference in price of n...