The Punjab Government reduced the Petrol and Diesel prices in Punjab by Rs. 10/liter and Rs. 5/liter respectively

Publish Date: 08 Nov, 2021 |
 

 Petrol and Diesel prices in Punjab:

The Punjab government has now announced a reduction of petrol and diesel prices by Rs 10 and Rs 5 per liter respectively from Sunday midnight, following its neighboring states Haryana and Himachal Pradesh.

Addressing the reporters after the cabinet meeting, Chief Minister Charanjit Singh Channi said that with this decision, the rate of petrol is now the lowest in Punjab (except Chandigarh), while the price of diesel in the state is quite low as compared to that of Haryana and Rajasthan. 

With this decision, the VAT rate on petrol will be reduced from 27.27% (24.79% plus 10% surcharge) to 15.15% and on diesel from 17.57% (from 15.15% to 15.9% plus 10% surcharge) to 10.91%.

It must be noted that after the reduction in the price of petrol and diesel by the Center, the Punjab government was also continuously being pressurized by the opposition to reduce the prices. The petrol-diesel association in the state was also being pressurized to reduce the prices.

After increasing pressure to reduce VAT on petrochemicals, it was decided in the cabinet to reduce their rates. Chief Minister Charanjit Singh Channi himself and Finance Minister Manpreet Badal gave information about this decision to the media by holding a press conference.

 

 

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