Punjab slashes petrol price by Rs 10, diesel by Rs 5

Punjab has slashed value-added tax (VAT) levied on petrol and diesel by Rs 10 per litre, and Rs 5 per litre respectively.

The Punjab government has announced a reduction in petrol and diesel prices by Rs 10 per litre and Rs 5 per litre respectively. The new prices will come into effect from midnight today (Sunday).

Announcing a reduction in value-added tax (VAT) on the fuels, Punjab Chief Minister Charanjit Singh Channi said that this is the first time in last 20 years that the state has slashed petrol and diesel price.