As part of good news for the common man, Arun Jaitley’s Budget 2018 will bring under control the sky-rocketing fuel prices in the country by reducing excise duty. The Budget reduced basic excise duty on branded and unbranded petrol as well as diesel. Unbranded Petrol which attracted excise of Rs. 6.48 per liter has been reduced to Rs. 4.48 per liter. Branded petrol has basic excise duty of Rs. 7.66 per liter which has been slashed to Rs. 5.66 per liter. Unbranded diesel having basic excise duty of Rs. 8.33 per liter was reduced to Rs. 6.33 per liter. Basic excise duty on branded diesel was also reduced from Rs. 10.69 per liter to Rs. 8.69 per liter.