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Punjab govt reduces petrol prices by Rs 10 per litre, diesel Rs 5 cheaper

Press Reporter News Service

Chandigarh, November 7

With the Centre slashing excise responsibility on petrol and diesel, the Punjab Authorities additionally introduced a discount in VAT on the fuels on Sunday, making them cheaper within the state by Rs 10 per litre and Rs 5 per litre, respectively.

The choice was taken at a Cupboard assembly chaired by Chief Minister Charanjit Singh Channi.

The brand new charges shall be efficient from midnight.

The Chief Minister made the announcement whereas addressing the media after the Cupboard assembly.  

The retail value of petrol within the state shall be Rs 96.16 per litre and for diesel will probably be Rs 84.80 a litre.

Finance Minister Manpreet Badal mentioned the discount in VAT on the fuels is estimated to trigger a income lack of Rs 900 crore to the state.

Final week, the Centre had introduced a reduce within the excise responsibility on petrol and diesel by Rs 5 and Rs 10, respectively, bringing down their retail charges from file highs.

Decreasing the excise responsibility, the Union Authorities had urged states to commensurately scale back VAT on petrol and diesel to provide reduction to customers.

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