PUNJAB GOVT DEFERS DECISION ON OIL PRICES TILL MONDAY The decision came after Punjab Chief Minister Capt Amarinder Singh had convened an urgent meeting of state’s officials of Excise and Taxation and Finance Department here on Friday at Chandigarh, to take stock of the development. The central government has reduced the Petrol and Diesel prices by Rs. 2.50 per litre. They have written to the state government to reduce the prices in their states too. Following which, the Chief Minister of Punjab had called the meeting of Finance, Excise and Taxation departments to discuss the impact of centre’s suggestion to reduce the prices of Petrol and diesel. Also Read: Petrol & diesel prices cut by Rs 2.50 per litre after excise duty reduction; oil companies absorbing Re 1 The Centre Government on Thursday cut petrol and diesel prices by Rs 2.50 per litre with immediate effect. Finance Minister Arun Jaitely addressed a Press Conference in which he announced that the excise duty on petrol and diesel has been reduced by Rs.1.50 per litre. Further Oil Marketing companies would be absorbing 1 rupee. Therefore, a total of Rs 2.50 per litre is reduced on both Petrol and diesel prices. He further told the media that the central government would be writing to all state governments to reduce their petrol and diesel prices by Rs 2.50 per litre by cutting down Sales Tax and VAT. -PTC News
