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The state government in a release claimed that Karnataka is the first state to reduce sales tax on petrol and diesel.
With this, diesel prices were reduced from Rs 104.50 on November 3 to Rs 85.03, which is a reduction of Rs 19.47.
Petrol prices were reduced from Rs 113.93 on November 3 to Rs 100.63, which is a reduction of Rs 13.30, the release said.
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Buckling under pressure, the central government on Wednesday had cut excise duty on petrol and diesel by Rs 5 and Rs 10 per litre to help bring down rates from their highest-ever levels, following which the state government had also announced its decision to reduce.
Earlier in the day, speaking to reporters in Hubballi, Chief Minister Basavaraj Bommai said the state government had been contemplating reducing prices ever since fuel prices crossed the Rs 100 mark, and it may cause an estimated loss of Rs 2,100 crore to the state’s exchequer.
“After the central government’s decision to reduce fuel prices I spoke to the Union Finance and Home Minister and they expressed desire that the state slash the prices. I spoke to our senior officials and decided on it,” he added.