Business

Good News As Govt Reduces Petrol & Diesel Prices By Rs 2.50 Per Litre

JAVED SAIFI | 0
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| October 4 , 2018 , 16:55 IST

In a bid to ease the burden, the government has decided to reduce petrol and diesel prices by Rs 2.50 per litre with immediate effect across the country on Thursday.

Announcing a decline in fuel prices, Finance Minister Arun Jaitley said, “The government has decided that Revenue Department will absorb Rs 1.50 per litre while Oil Marketing Companies (OMCs) will absorb the other Rs 1.”

“We will also request to state governments to reduce VAT on fuel by Rs 2.50 as well,” he added.

The move of the Central government is aimed at easing the burden of people.

Reciprocating positively to Finance Minister request, the government of Gujarat has decided to reduce petrol and diesel prices by Rs 2.50 and Maharashtra has decided to give additional relief of Rs 2.5/litre on Petrol with the Central government deduction of Rs 2.50 per litre.

Opposition parties and people have been criticizing the Centre for not taking any step to reduce petrol and diesel prices.

Before the announcement, Petrol was retailing at Rs. 83.85 per litre in New Delhi with diesel was retailing at Rs. 75.25 per litre.

In Mumbai, petrol and diesel prices was retailing at Rs. 91.20 per litre and Rs. 79.89 per litre.

Also Read:Protesting Against Petrol & Diesel Price Hike, Shiv Sena Puts Up Posters, Compares Prices

In Kolkata, petrol was retailing at Rs. 85.65 per litre and diesel was at Rs. 79.57 per litre.

As petrol and diesel prices reduced by Rs 2.50 per litre with immediate effect, the Rs 90 mark for petrol in Mumbai has come down.

Congress party had launched Bharat Bandh protest on September 10 across the nation, protesting against the hiked petrol and diesel prices. Protesting against the hiked petrol and diesel prices BJP ally in Maharashtra Shiv Sena had put posters across Mumbai inked with rising petrol prices and diesel prices.

The posters gained attention as Shiv Sena taking a dig at Prime Minister Narendra Modi-led government used a slogan of ‘Yehi hai acche din’ and compared previous fuel prices.