Centre gives relief:Fuel prices cut by ₹2.50 /litre
Petrol and Diesel prices cut by ₹2.50/l
HIGHLIGHTS
- Petrol,Diesel prices cut by ₹2.50 per litre as relief to common man as international oil prices were high.
- All the 12 BJP-ruled states lower the VAT by Rs 2.50, making petrol cheaper by additional cut of Rs 2.50/litre.
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The reduced rates will be effective from midnight oct 4th.
Central government announced a cut of Rs 2.50 per litre on diesel and petrol on October 4. In a couple of hours, several BJP-ruled states also announced a additional Rs 2.50 cut, taking the total reduction to Rs 5.
Finance Minister Arun Jaitley in a press conference announced a cut in excise duty on fuel prices by Rs 2.50. He also said the move was necessitated by an increase in Brent crude oil to a four-year high of $86 a barrel on Wednesday, and seven-year-high interest rates in the US.
Maharashtra and Gujarat governments were among the first to announce a matching Rs 2.50 cut. Later Chhattisgarh, Jharkhand, Tripura, Uttar Pradesh, MadhyaPradesh,HimachalPradesh,Haryana, Assam, Uttarakhand, Goa, and Arunachal Pradesh also announced a similar move.