How will the excise duty cut on petrol & diesel impact consumers?

The Centre has cut special additional excise duty by ₹10 on petrol to ₹3/litre and diesel to zero. This would help oil marketing companies, which are losing ₹48.8 per litre of petrol or diesel sold, offset their losses and keep the rates stable. However, this doesn't necessarily mean that companies will pass on the benefit to consumers by reducing prices.