Then, the assembly elections in five states, including UP, did not change petrol and diesel prices. With the election in those states over, the war between Russia and Ukraine has pushed up international crude oil prices.
In Chennai, petrol remained unchanged at Rs 110.85 and diesel at Rs 100.94 for a long time till May 21.
In this context, on May 21, Union Finance Minister Nirmala Sitharaman issued a sudden announcement. The excise duty on petrol will be reduced by Rs 9 per liter and the excise duty on diesel by Rs 7.50 per liter. Following this, petrol in Chennai (22nd) fell by Rs 8.22 a liter to Rs 102.63 and diesel by Rs 6.70 a liter to Rs 94.24. Today (29th) was the eighth day that petrol was selling at Rs 102.63 and diesel at Rs 94.24.