DELHI: The government is in talks with the Petroleum Ministry to hike fuel prices. The excise duty hike in petrol and diesel has been reduced. The government has reduced the subsidy bill by Rs 1.50 per liter. Oil firms also cut petrol by Rs. This will help the consumers get a liter of Rs 2.50 per liter, “Finance Minister Arun Jaitley said in a press conference.
Jaitley has also demanded that states also reduce fuel tariffs due to the action taken by the central government. States will also be relieved by cutting the dues by Rs 2.50. The minister said the price of crude oil in the international market is fueling rising fuel prices.