Chandigarh, Nov 7 (IANS): After neighbouring Haryana and Himachal Pradesh, the Punjab government has now announced to slash the prices of petrol and diesel by Rs 10 and Rs 5 per litre, respectively, effective from Sunday midnight.
Talking to mediapersons here after a Cabinet meeting, Chief Minister Charanjit Singh Channi said that with this decision, Punjab now has the lowest petrol rate in the region (except in Chandigarh), while diesel price in the state is also much lower than Haryana and Rajasthan.
With this decision, the rate of VAT on petrol has been reduced from 27.27 per cent (24.79 per cent plus 10 per cent surcharge) to 15.15 per cent, and on diesel from 17.57 per cent (15.9 per cent plus 10 per cent surcharge) to 10.91 per cent.