Mumbai, October 4: After the Centre cut diesel and fuel prices by Rs 2.50 per litre with immediate effect, now three Bharatiya Janata Party (BJP) ruled states of Gujarat, Uttar Pradesh and Assam also cut Value Added Tax on petrol and diesel. Meanwhile, Maharashtra reduced VAT only on Petrol. In these four states, the fuel will be cheaper by Rs 5 (approx.). Maharashtra Chief Minister Devendra Fadnavis and Gujarat CM Vijay Rupani tweeted to inform about the decision of their respective governments.

Devendra Fadnavis in his tweet said, “Maharashtra Government also decided to give additional relief of ₹2.5/litre on Petrol to give total benefit of ₹5/litre in the State of Maharashtra.” Whereas Rupani tweeted, “Finance Minister Sh @arunjaitley Ji has announced Rs.2.5 cuts in petrol & diesel prices, reciprocating positively to FM’s announcement, the Govt Of Gujarat has also decided to reduce Rs.2.50 on both petrol & diesel. Thus petrol & diesel wd be Rs. 5 cheaper in the State of Gujarat.”

Earlier in the day, Finance Minister Arun Jaitley cut petrol and diesel prices by Rs 2.50 per litre with immediate effect, providing some relief from rising fuel prices. He said that while the Centre has cut excise duty on petrol and diesel by Rs 1.50 per litre, the Oil Marketing Companies (OMCs) will further reduce prices by Re 1 per litre. Petrol Price Hits Rs 84 in Delhi, Diesel Costs Rs 80 in Mumbai as Fuel Rates Continue to Soar.

Jaitley further added that Rs 10,500 crore will be the impact of the excise duty cut this year. He also asked states to further cut prices on their level by Rs 2.50 per litre so that consumers can get a relief amounting to Rs 5 per litre. Prime Minister Narendra Modi on Thursday held a meeting with his ministers over rising prices of petrol and diesel in the country. 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 04:10 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).