Petrol prices reduce by Rs 1.30/litre: Delhi Budget 2012

NEW DELHI: The Delhi State Government has announced its decision to cut petrol prices by Rs 1.30 across the city. As per the Delhi Budget of 2012, Chief Minister Sheila Dikshit on Monday said, the value added tax (VAT) won’t be imposed on Rs 7.50 amount by which the petrol prices were increased last week.

A hike of Rs 7.50/litre had led to a cost of Rs 73.18/litre, but with a VAT redemption it costs Rs 71.88 a litre. Apart from Delhi, states like Kerala and Uttarakhand have also reduced taxes owing to the extreme petrol price hike.

Several protests across the country and a lower trend throughout the last fortnight observed by the Indian Oil Corp have led to this measure.