Kerala to reduce fuel prices by ₹1 per litre
While the whole country is feeling the heat due to the ever increasing fuel prices, Kerala has decided to follow the opposite route.
The Kerala government has decided that it will reduce the price of fuel by ₹1 per litre.
The price reduction will come into effect from 1 June and will apply on both petrol and diesel prices.
This will make Kerala, the first Indian state to cut back on taxes on fuel after the recent price hikes.
The reduction is expected to cause a loss of around ₹500 crore annually to the state government revenue collection.
Chief Minister Pinarayai Vijayan announced that this decision has been taken to provide some relief to the common man.
Price of petrol in Thiruvananthapuram on Wednesday was Rs 82.61 while diesel was retailing at Rs 75.19.