Punjab sees biggest reduction in petrol price, Ladakh on diesel

Punjab has seen the most cut in petrol price of ₹16.02 a litre; while in Ladakh rate of diesel has come down by ₹9.52 per litre

Congress-ruled Punjab has seen the biggest reduction in price of petrol in the country after it cut local sales tax or VAT the most; while Union Territory of Ladakh witnessed the largest reduction in diesel rates for the same reason.

Post the Union government's decision of reducing excise duty on petrol by ₹5 per litre and that on diesel by ₹10 a litre, 25 States and U.T.s have cut VAT to give further reprieve to consumers battered by record-high retail prices.

Petrol price has been further reduced by as much as ₹16.02 per litre and diesel by ₹19.61 a litre as a result of combined impact of the excise duty and VAT cut, according to price charts available from state-owned fuel retailers.