New Delhi, October 4: In a double bonanza for consumers, the Centre government and various Bhartiya Janata Party (BJP) ruled states have reduced the fuel prices Rs 2.50 each. Today, Finance Minister Arun Jaitley cut petrol and diesel prices by Rs 2.50 per litre with immediate effect. The Modi government has reduced excise duty on petrol and diesel by Rs 1.50 per litre, while the Oil Marketing Companies (OMCs) will further reduce prices by Re 1 per litre. The finance minister said that Rs 10,500 crore will be the impact of the excise duty cut this year.

After the Centre’s cut on fuel prices, various BJP-led states also reduced the diesel and petrol prices by Rs 2.50 by cutting the Value Added Tax (VAT). Initially, four states of Maharashtra, Gujarat, Assam and Uttar Pradesh reduced fuel prices. However, the Maharashtra government cut VAT only on petrol. After these four states, Jharkhand, Madhya Pradesh and Tripura also reduced VAT on the fuel prices by Rs 2.50. Now, in these states fuel will be cheaper by Rs 5. Rs 5 Per Litre Relief in Petrol And Diesel Prices is Same as The Amount by Which Fuel Rates Rose in Just One Month

Here is the list of states which reduced fuel prices after the central government’s decision to reduce the price by Rs 2.50.

S. No. State Cut in Petrol Price Cut in Diesel Price
1 Maharashtra 0 2.50
2 Gujarat 2.50 2.50
3 Assam 2.50 2.50
4 Tripura 2.50 2.50
5 Chhattisgarh 2.50 2.50
6 Jharkhand 2.50 2.50
7 Madhya Pradesh 2.50 2.50
8 Himachal Pradesh 2.50 2.50
9 Haryana 2.50 2.50
10 Jammu and Kashmir 2.50 2.50
11 Goa 2.5 2.50

Prime Minister Narendra Modi on Thursday held a meeting with his ministers over rising prices of petrol and diesel in the country. Jaitley and Petroleum Minister Dharmendra Pradhan were also present at the meeting. On October 4, the price of petrol hit the Rs 84 per litre mark in Delhi while in Mumbai petrol was sold at Rs 91.34.

(The above story first appeared on LatestLY on Oct 04, 2018 05:23 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).