Srinagar: In a welcome step for motorists in Jammu and Kashmir, Jammu and Kashmir has reduced petrol and diesel prices by a huge margin after centre announced excise duty reduction on fuel.
Announcing the reduction, LG Manoj Sinha tweeted on Thursday: “Hon’ble PM @narendramodi Ji has given a great Deepawali gift by announcing a reduction in excise duty on Petrol & Diesel. In addition, J&K admin has decided to reduce additional Rs.7 on Petrol&Diesel, thereby reducing Petrol price by Rs.12/litre &Diesel by Rs.17/litre in UT from today.”
Petrol and diesel prices in India dropped sharply on Thursday after the centre had announced to reduce excise duty on fuel rates. In a bid to provide much-needed relief to aam aadmi, the central government cut excise duty on petrol and diesel by a record Rs 5 and Rs 10 per litre, respectively.
“Government of India has taken a significant decision of reducing Central Excise Duty on petrol and diesel by Rs 5 and Rs 10 (per litre) respectively from tomorrow. Prices of petrol and diesel will thus come down accordingly,” the finance ministry said in a statement on Wednesday.
Given the LG’s tweet, J&K should see a record drop in prices and Petrol.