On Wednesday, Kerala Chief Minister Pinarayai Vijayan announced that it will cut fuel prices in the state by Re 1. This will come into effect from Friday, June 1, 2018.
“Our state is not going financially well. But our government has taken the decision to cut the excise duty on fuel to effect a Re 1 reduction in petrol and diesel prices from June 1. Thi will cause a revenue loss of Rs 509 crore annually. this should be seen as our message to the Centre. Fuel prices cannot go up like this. They must slash prices so as to provide relief for the common man,” Vijayan said during a routine press briefing after the weekly cabinet meeting.
Today in state capital Thiruvananthapuram price of petrol was Rs 82.61 while diesel was retailing at Rs 75.19.