Punjab govt cuts prices of Petrol and diesel

Chandigarh: Punjab Chief Minister Charanjit Singh Channi announced to slash the prices of Petrol by 10 rupees per litre and Diesel by five rupees per litre from midnight yesterday. Talking to the media persons at Chandigarh after the Cabinet meeting, the Chief Minister said, the rate of VAT on Petrol has been reduced from 27.27 per cent to 15.15 per cent and on Diesel from 17.57 per cent to 10.91 per cent. He said, with this decision, Punjab has the lowest petrol rates in the region except Union Territory of



Chandigarh.

He said, now rate of Diesel in Punjab is also much lower than neighbouring states of Haryana and Rajasthan.

Mr Channi said, it is really unfortunate on the part of Central Government to slash the prices of petrol by five rupees and diesel by 10 rupees per litre w.e.f 4th of November, thereby cutting down the excise duty, which would adversely impact the income of all states including Punjab having 42 per cent share in the excise duty collected by Centre.