New Delhi: The Karnataka government on Monday reduced the cess on both petrol and diesel by Rs 2 in the state. The state government is expected to release an official notification by Monday evening, after which the price reduction is said to kick off from Tuesday.
While the price of Petrol in Bengaluru retailed at Rs 84.74 per litre, the diesel prices stood at Rs 76.16 per litre on Monday. The petrol prices in the National capital region increased by 0.15 paise to Rs 82.06 per litre on Monday. The diesel prices in the state increased by 0.6 paise to Rs 73.78 per litre on Monday.
During a meeting held last week with the finance department, Karnataka chief minister H D Kumaraswamy had issued directions to reduce the duty levied on petrol and diesel by Rs 2 to Rs 2.50 per litre. Earlier in the month, Andhra Pradesh and West Bengal government had marginally reduced the price of petrol and diesel in their states.
The rising fuel prices in the country has had an adverse impact on the consumers. On August 13, the price of the fuels stooped and has been on record levels for nearly two weeks till date. The government has invited criticisms for failing to implement stringent measures to curb the rising prices.
As per the pricing mechanism of the country, the domestic fuel prices are determined based upon the international fuel prices on a 15-day average. The value of the rupee is also dependent upon global factors. Union Petroleum and Natural Gas Minister Dharmendra Pradhan had blamed the global factors for the hike in fuel price in the country and added that the rise in fuel price is beyond the Centre’s control.