Thursday, 28 October 2021

Petrol price cut in Puducherry

Petrol price cut in Puducherry

Puducherry government on August 25 announced a tax cut in petrol prices. The territorial administration has cut value-added tax (VAT) on petrol by 3 percent.

The reduction was taken by Chief Minister N Rangasamy at a territorial cabinet meeting earlier and was approved by Lieutenant Governor Tamilisai Soundararajan, said an official press release.

With the cut, the petrol price would be reduced by Rs 2.43 per liter in Puducherry and Karaikal regions.

As per Indian Oil's website, the petrol currently retails at Rs 101.81 a liter, and diesel costs Rs 92.73 in Puducherry.

Earlier, Tamil Nadu had announced a similar tax cut on petrol. The DMK government had reduced tax by Rs 3 per liter on gasoline.

The tax cut will result in a loss of Rs 1,160 a year to the state, Finance Minister P Thiaga Rajan had said on August 12.

Petrol price cut in Puducherry 1pixabay image

Read More: Road in future is more daunting than 1991 crises say Ex-Prime Minister Manmohan Singh

Petrol currently costs Rs 99.20 in Chennai, while diesel retails at Rs 93.52 in Tamil Nadu's capital.

Fuel prices reached record highs across all metros after incessant hikes in rates since May.

The price increase since May 3 has force petrol rates above the Rs 100-liter mark in most places in 15 states, including states Rajasthan, Madhya Pradesh, Maharashtra, Andhra Pradesh, Telangana, Karnataka, Odisha, Kerala, Bihar, and Punjab, and at a couple of districts in Uttar Pradesh and Haryana.

With the cut, the petrol price would be reduced by Rs 2.43 per liter in Puducherry and Karaikal regions.

Petrol prices in Mumbai also fell for the second time this week, with the fuel now retailing at Rs 107.52 at the pumps.

The diesel rate also dipped by 18 paise on Tuesday and was being sold at Rs 96.48 per liter.

The petrol price in neighboring Thane and Navi Mumbai area also fell by 14 paise to retail at Rs 107.66 per liter while diesel rate dropped to Rs 96.61 per liter.

Follow Us

Popular Post

School in Delhi to re-open from 1st November

School in Delhi to re-open from 1st November

Farhan Sayyed Oct 27, 2021 Politics

After more than eighteen months, all schools in Delhi will be permitted to re-open for all classes, including at the primary level—from 1st November. ...