Maha govt reduces petrol price by Rs 2.50 per litre

The Maharashtra government Thursday announced reduction in the price of petrol by Rs 2.50 per litre, which will give consumers in the state relief to the tune of Rs 5 a litre.

The announcement was made by Chief Minister Devendra Fadnavis soon after the central government announced cut in the prices of petrol and diesel by Rs 2.50 per litre.

"Maharashtra government also decided to give additional relief of Rs 2.50 per litre on petrol to give a total benefit of Rs 5 per litre in the state of Maharashtra," Fadnavis tweeted.

Thanking Prime Minister Narendra Modi and Union Finance Minister Arun Jaitley, Fadnavis said the reduction in fuel prices will give a huge relief to citizens.

Earlier, Jaitley announced in Delhi a cut in petrol and diesel prices by Rs 2.50 per litre, factoring in excise duty reduction of Rs 1.50 per litre.

He asked state governments to follow suit by cutting a sales tax or VAT by a similar amount.

The reduction followed petrol and diesel prices touching new highs.

Maharashtra's Minister of State for Finance Deepak Kesarkar said historically, Maharashtra has always been reducing prices of fuel in accordance with the Centre.

"The government has always remained positive on the issue of reducing fuel prices. We are happy to reduce prices of fuel as much as announced by the Centre," Kesarkar said.