AUTO Business FINANCE India

Karnataka government cuts fuel prices by Rs 2 per litre


New Delhi: The Karnataka government on Monday cut fuel prices in the state. The state government reduced the cess on both petrol and diesel by Rs 2.

The effective reduction in prices will kick off from Tuesday, as the state government is expected to officially notify it by today evening. Petrol prices in Bangaluru stood at Rs 84.74 per litre while diesel prices stood at Rs 76.16 per litre.

Karnataka chief minister H D Kumaraswamy, in a meeting last week, had directed the finance department to take necessary steps to reduce duty on petrol and diesel by at least Rs 2 to Rs 2.50 per litre.

Earlier this month Andhra Pradesh and West Bengal government had also marginally reduced fuel prices.

Fuel prices have gone through roof, thereby burning a hole in the pockets of consumers. Fuel prices in the country have been going up almost daily since August 1. They fell only once on August 13 and have been on record levels for nearly two weeks now.

In New Delhi, petrol prices were increased by 0.15 paise to Rs 82.06  per litre while diesel prices were hiked by 0.6 paise to Rs 73.78 per litre on Monday.

Fuel prices are the steepest in Maharashtra and the lowest in Andaman and Nicobar.

Government has been facing a lot of flak lately for not implementing stringent measures to curb prices. As per the country`s pricing mechanism, the domestic fuel prices depend upon the international fuel prices on a 15-day average and the value of the rupee.

Speaking about the soaring fuel price, Union Petroleum and Natural Gas Minister Dharmendra Pradhan earlier said that the hike in fuel price in the country is due to international factors, and not under the Centre`s control.