Union Territory Chandigarh on Friday announced a ₹1.50 per litre cut in petrol and diesel prices, effective from Friday midnight.
Fuel prices have already come down by ₹2.5 per litre after the Centre reduced the excise duty by ₹1.5 per litre and directed oil companies to absorb a cut of Re 1 per litre.
The Chandigarh administration has reduced the value added tax (VAT) on petrol and diesel, an official release said here.
“The sale price of petrol and diesel will come down by ₹1.50 per litre. As the Government of India has already reduced the rate on petrol and diesel of ₹2.50 per litre, thus the total benefit to the consumers (in Chandigarh) will be ₹4 per litre on petrol and diesel,” it said.
The BJP-led government in Haryana Thursday announced a ₹2.50 per litre cut in petrol and diesel prices, while the Punjab government has called a meeting on Monday to decide on the issue.
The central government had cut petrol and diesel prices by ₹2.50 per litre, factoring in excise duty reduction of ₹1.50 per litre and asking oil companies to absorb a rupee per litre.
Finance minister Arun Jaitley had also asked the state governments to follow suit by cutting a sales tax or VAT by a similar amount. The reduction followed petrol and diesel prices touching new highs.
{{/usCountry}}Finance minister Arun Jaitley had also asked the state governments to follow suit by cutting a sales tax or VAT by a similar amount. The reduction followed petrol and diesel prices touching new highs.
{{/usCountry}}