Kerala Chief Minister Pinarayi Vijayan today said petrol and diesel prices in the state would be slashed by Rupee one per litre from June 1. The decision was taken at the state cabinet today.
“This reduction in fuel prices would cause a yearly loss of Rs 509 crore to the state exchequer on the tax front”, he said.
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Today, the petrol price in the state was Rs 82 per litre, while for diesel it was Rs 75.
“The Centre should reduce the rising fuel prices as it was causing severe hardship to the common man”, Vijayan said, adding that by reducing the petrol and diesel prices in Kerala, the government has set an example for the Centre govt to follow.
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Even when the international crude oil prices are coming down, fuel prices in the country were going up, he claimed.