Commenting on unaudited mid-month fuel price data released by the Central Energy Fund earlier in May, the Automobile Association (AA) expressed concern over the impact of fuel price hikes on the economy. With this step, Kerala has become the first state in the country that has made a decision to take a hit on its revenue to mitigate the impact of higher global prices on customers. "I thank them for it", ANI quoted Pradhan as saying.
Amid soaring fuel prices, Kerala Chief Minister Pinarayi Vijayan today said petrol and diesel prices in the state would be slashed by Re one per litre from June 1. ONE paisa!?? If this is your idea of a prank, it's childish and in poor taste", Congress President Rahul Gandhi said in a tweet. "P.S.
There is good news for people living in Kerala as the state government has chose to reduce taxes on fuel.
CEO of Debt Rescue, Neil Roets said that the expected hike in the fuel price - coming on top of record increases in May - will have a massive impact on consumers.
Petrol and diesel prices have been sailing northwards for the past two weeks and today was the first time that the prices were cut. The rise was seen soon after the Karnataka elections were held, the price went up by Rs 3.79 per liter for petrol and by Rs 3.37 for diesel.
The Centre levies Rs 19.48 as excise duty on a litre of petrol. "We wish to send a message to the Centre that despite pleas from several quarters, it is not doing anything to bring some relief to the people", the CM said.