In a major relief to common man, petrol and diesel have become cheaper by Rs 5/litre in at least 12 states.
The rates of fuel prices went down after Finance Minister Arun Jaitley on Thursday announced an excise duty cut of Rs. 1.5 per litre on petrol and diesel. In addition to that, state-run oil-marketing companies decided to absorb another cut of Re 1 per litre on petrol and diesel. These rate cuts brought down the prices of petrol and diesel by Rs. 2.5 per litre.
At least 12 states announced VAT rate cuts (amounting to another Rs 2.5 per litre) on petrol and diesel after Jaitley urged the states to follow suit and cut the VAT on fuel by an equal amount.
Cuts announced in excise duty and VAT by the Centre and states respectively led to reduction of petrol and diesl prices by Rs 5 per litre in 12 states.
The 12 states which announced cuts in petrol and diesel prices are Maharashtra, Madhya Pradesh, Jharkhand, Chhattisgarh, Assam, Uttar Pradesh, Haryana, Jammu and Kashmir, Himachal Pradesh, Tripura Gujarat, and Goa.
Maharshtra, on the other hand, has announced a cut of Rs 2.5 per litre for petrol only.
The reduction in excise duty, only the second in four years of BJP-led NDA rule, will cost the central government a revenue of Rs. 10,500 crore in the current fiscal, said Jaitley.
The revised rates of petrol and diesel in major metro cities post the price-cut are:
# Delhi- Petrol at Rs 81.50/litre, diesel at Rs 72.95/litre
# Mumbai- Petrol at Rs 88.34/litre, diesel at Rs 77.60/litre
# Chennai- Petrol at Rs 84.83/litre, diesel at Rs 77.29/litre
# Kolkata- Petrol at Rs 83.30/litre, diesel at Rs 74.80/litre
Petrol, diesel price cut in Maharashtra
After the centre's announcement, Maharashtra Chief Minister Devendra Fadnavis announced a cut in petrol prices by Rs. 2.50 per litre. "Maharashtra government also decided to give additional relief of Rs 2.50 per litre on petrol to give a total benefit of Rs. 5 per litre in the state of Maharashtra," Mr Fadnavis tweeted. However, the state did not reduce diesel rates.
Petrol, diesel price cut in Jharkhand
Jharkhand government decided to give an additional relief of Rs 2.5/litre on diesel in the state, Chief Minister Raghubar Das said on Twitter.
Petrol, diesel price cut in Chhattisgarh
Chhattisgarh chief minister Raman Singh announced a cut of Rs 2.50 on both petrol and diesel in the state.
Petrol, diesel price cut in Assam
Assam government also decided to reduce Rs 2.50 on both petrol and diesel, thus making it Rs. 5 less than the prevailing rates, said Himanta Biswa Sarma, the state minister of Finance, Health & Family Welfare, PWD, Transformation & Development.
Petrol, diesel price cut in Uttar Pradesh
Uttar Pradesh chief minister Yogi Adityanath announced a cut of Rs 2.5 per litre on petrol and diesel prices. Mr Adityanath said that the state will take an annual revenue cut of Rs. 4,000 crore as it passes on the relief in petrol, diesel rates to consumers
Petrol, diesel price cut in Gujarat
Gujarat government also decided to reduce petrol, diesel prices by Rs 2.5 per litre. This was announced by Chief Minister of Gujarat Vijay Rupani on Twitter.
Fuel prices rise again; petrol hiked by 30 paise/litre in Delhi, diesel rates race towards Rs 80-mark in Mumbai
Petrol, diesel price cut in Madhya Pradesh
Madhya Pradesh also announced a cut of Rs 2.5 per litre in petrol and diesel prices.
Petrol, diesel price cut in Tripura
Tripura also followed suit to cut petrol, diesel prices by Rs 2.5 per litre.
Petrol, diesel rate cut in Himachal Pradesh
The Himachal Pradesh government has decided to reduce prices of petrol and diesel by Rs 2.50 per litre, Chief Minister Jai Ram Thakur said. The state government has decided to reduce the value added tax (VAT) on petrol and diesel to effect a Rs 2.50 per litre reduction in fuel prices in order to facilitate the general public, the chief minister said.
Petrol, diesel price cut in Jammu and Kashmir
"The state government this evening announced matching cut of Rs. 2.50 per litre in fuel prices commensurate with the price cut of Rs. 2.50, announced by the central government earlier today," an official spokesman was quoted as saying in an IANS report.
Petrol, diesel prices slashed in Haryana
Welcoming the decision of the Central government, Haryana Finance Minister Abhimanyu said the Haryana government has also decided to reduce Value Added Tax (VAT) on petrol and diesel by about Rs. 2.50 per litre, reported IANS.
Goa govt cuts petrol, diesel prices by Rs 2.5 per litre
The Goa government on Thursday announced reduction in the prices of petrol and diesel in the state by Rs 2.5 per litre by decreasing the Value Added Tax.
Chief Minister Manohar Parrikar, who is being treated at the All India Institute of Medical Sciences in Delhi, announced the price cut.
The announcement followed the Centre's move to reduce the prices of two fuels by Rs 2.5 per litre.
"Many thanks to PM @narendramodi ji for the #FuelPriceCut of Rs 2.50 per ltr. Goa government will further reduce fuel pries by Rs 2.50 in the state," Parrikar tweeted.