Fuel Cut: Punjab Slashes Petrol Price By Rs 10, Diesel By Rs 5

On Sunday, the Punjab government lowered the VAT (value-added tax) on petrol and diesel, making them cheaper by Rs 10 per litre and Rs 5 per litre in the state, just days after the Centre lowered fuel excise duty.

The revised prices would be effective from Sunday midnight, according to Chief Minister Charanjit Singh Channi, in significant relief to the people of the state.

"With this decision, Punjab now has the lowest petrol pricing in the area, with the exception of the UT of Chandigarh, and diesel costs in Punjab are also significantly cheaper than Haryana and Rajasthan," Channi declared after the Cabinet meeting.

With this decision, Channi said, the rate of VAT on petrol has been reduced from 27.27 percent to 24.79 percent plus 10% surcharge to 15.15 percent to 13.77 percent plus 10% surcharge, and the rate of VAT on diesel has been reduced from 17.57 percent to 15.93 percent plus 10% surcharge to 10.91 percent to 9.92 percent plus 10% surcharge.

"In the future, we will give them additional such gifts (important public welfare announcements). People have been burdened greatly in recent years, but we are taking steps to bring relief in every sector," stated the Chief Minister, citing his government's decisions such as the reduction in electricity bills.

Petrol costs Rs 104.01 in Delhi, Rs 95.29 in Haryana, Rs 95.76 in Himachal Pradesh, Rs 96.13 in Jammu and Kashmir, Rs 116.27 in Rajasthan, and Rs 94.21 in Chandigarh, according to a list published by the state government.

Diesel, on the other hand, costs Rs 86.71 in Delhi, Rs 86.53 in Haryana, Rs 80.34 in Himachal Pradesh, Rs 80.31 in Jammu and Kashmir, Rs 100.46 in Rajasthan, and Rs 80.89 in Chandigarh, according to the data.