The Maharashtra government announced to dropped the diesel prices by Rs.4.06 per litre in the state, on Friday.

Maharashtra, Chief Minister Devendra Fadnavis had already announced for cutting off VAT on petrol.

Mr Devendra Fadnavis said that after the relief announcement made by central government to slash down the diesel prices by Rs.2.50 per litre, the state government had decided to cut off some more burden by slashing down the diesel prices by Rs.1.56 per litre. Now the effective drop in the cost of the fuel would be of Rs 4.06 per litre.

He added that the centre’s decision to slash down the Value Added Tax (VAT) on petrol by Rs. 2.50 per litre had been happily welcomed by the state people and government was ready to bear the losses in the larger public interest.

On Thursday Centre decided to cut off the prices of petrol-diesel which inspired at least a dozen states to reduce the various local taxes like VAT on petrol and diesel for providing relief to the people.

The decision made by Centre and State would reduce the petrol prices by around Rs. 4.37 per litre in the Maharashtra state which was dealing with the highest fuel prices anywhere in the country.

The Federation of All Maharashtra Petrol Dealers Association (FAMPEDA), Chairman, Uday Lodh, appreciated and welcomed the reduction made in the fuel prices but informed that the daily price increase by the Oil Marketing Companies would continue according to global crude oil price fluctuations.
The hike in petrol and diesel prices has been a burning issue in the country. The whole country shared the load of the increased price but the recent reduction made the government even after being in loss provided a big relief to the people.

Many states had already announced to cut off the VAT in petrol and diesel before the Centre’s decision.