In poll-bound Punjab, the Congress-led government has decided to cut petrol prices by Rs 10 per litre and diesel by Rs 5. The new rates will come into effect from midnight, Chief Minister Charanjit Singh Channi announced on November 7.
The rate cut, which will be brought into effect through a reduction in value added tax (VAT) levied on fuel, comes three days after the Centre reduced excise duty on petrol by Rs 5 per litre and diesel by Rs 10.
Channi, while addressing the press today, said the Punjab government has decided to further slash the rates to relieve the people. Referring to the reduction in petrol price, the chief minister said “this has not happened in the past 70 years”, NDTV reported.
“We have decided to decrease petrol and diesel prices by Rs 10 per litre and Rs 5 per litre, respectively, to be effective from midnight today,” news agency ANI quoted Channi as saying.