Government reduces petrol and diesel rates by Rs 2.50 per litre effective immediately

As late as today morning, the cost of 1 litre of petrol stood at a staggering Rs 91.12 per litre. In sudden development today afternoon, the Centre announced a price cut by Rs 2.50 per litre for petrol and diesel and urged all the states to do the same. In addition to the Rs 2.5 per litre price cut, Maharashtra reduced petrol prices by further Rs 2.50 per litre, thus bringing the total price cut to Rs 5 per litre. Meanwhile, Gujarat announced a further price cut of Rs 2.5 per litre for both petrol and diesel, in addition to the Centre’s price cut by Rs 2.5 per litre, thus bringing the total price cut to Rs 5 per litre in Gujarat too. The reduction in fuel prices will bring much relief to the common man as petrol and diesel prices had hit an all-time high lately.

Finance Minister Arun Jaitley had reduced excise duty on petrol and diesel by Rs 1.5 litre and asked the oil marketing companies to bear Rs 1, thus reducing the fuel prices by Rs 2.5 per litre today.

On the petrol and diesel price reduction, Maharashtra chief minister Devendra Fadnavis tweeted –  “Thank you Hon PM @narendramodi ji and Union Minister @arunjaitley ji for reducing Rs 2.50/litre on both Diesel and Petrol. This will give huge relief to common citizens. Maharashtra Government also decided to give additional relief of Rs 2.5/litre on Petrol to give total benefit of Rs 5/litre in the State of Maharashtra.”

Gujarat chief minister Vijay Rupani tweeted – “Finance Minister Sh @arunjaitley Ji has announced Rs.2.5 cuts in petrol & diesel prices, reciprocating positively to FM’s announcement, the Govt Of Gujarat has also decided to reduce Rs.2.50 on both petrol & diesel. Thus petrol & diesel would be Rs. 5 cheaper in the State of Gujarat.”

We hope that other states too follow Maharashtra and Gujarat’s example and reduce fuel prices further.