Petrol is currently priced at Rs 73.51 per litre in the state and after the prices are slashed it will come down to Rs 58 per litre, said reports. [UPDATE: Petrol Price likely to be hiked in India by April 1]
Currently the state government imposes 25% VAT on petrol and 5% entry tax on the same, claimed Bhushan Narang, President of Karnataka Federation of Petrol Dealers’ Association. [Read: Be ready to burn pockets, Rs 5/ ltr petrol hike likely on Mar 31].
Union Finance Minister Pranab Mukherjee also announced a reduction in the petrol prices by Rs 15 per litre in metros if they follow the path of Goa. [Read: Relief for Bangaloreans, woman serial killer to be hanged]
Earlier, Goa had announced a reduction in the price of petrol by Rs 11 per litre.
"I propose to reduce petrol price by Rs 11 per litre to save commuters from inflation," said Chief Minister of Goa, Manohar Parrikar while presenting the budget.
Reports reveal that Delhi might also follow Goa's suite and reduce petrol price by Rs 15 per litre.