Petrol, diesel prices in Kerala slashed by Re 1 per litre

Petrol and diesel prices in Kerala were slashed by Re 1 per litre from Friday following the state government's decision to reduce cess.

The rates in Kerala on Friday were Rs 81.40 per litre for petrol and Rs 74.05 a litre for diesel.

The decision to reduce sales tax by Re 1 per litre on petrol and diesel was taken at a state Cabinet meeting, chaired by Chief Minister Pinarayi Vijayan on Wednesday.

Vijayan had stated that the government decided to bring down the fuel prices to give some relief to the people, who were really upset due to the daily hike in prices of petroleum products.

The move would result in a revenue loss of Rs 509 crore per year to the state exchequer, the chief minister had said.