Morung Express News
Dimapur | October 5
The Nagaland State Government, on Friday, has decided to cut the prices of petrol and diesel by Rs 5 each per litre. “We have cut taxes on Petroleum products to make fuel cheaper by Rs 2.50 per litre in addition to the reduction of Rs 2.50 by Govt. of India yesterday,” Nagaland Chief Minister Neiphiu Rio posted on his official Twitter account on October 5.
“Petrol & Diesel will be cheaper by Rs 5 per litre,” he added.
However, it was yet to take effect till the filing of this report. In Dimapur, petrol was selling at Rs 79.20 per litre in Dimapur on October 5, according to update by the Government-owned Indian Oil Corp., a fall of 02.50 paise from the previous day of Rs 81.70.
With the new price cut, however, the cost of petrol may fall further to Rs. 76.70, the lowest since August 31, 2018 when it was Rs. 76.35.
On Thursday, the Union Finance Minister Arun Jaitley had announced marginal relief for citizens from runaway fuel prices with excise duty cut of Rs. 1.50 and another Re 1 drop by oil marketing companies, taking the cut in fuel prices to Rs. 2.50.
He had also appealed to the states to match the centre's effort by reducing value-added tax or VAT by Rs. 2.50 so that the total benefit to citizens is at least Rs. 5.
