Just when the Rajasthan cut the VAT on fuel by four per cent, the Andhra Pradesh decided to follow the footsteps of Rajasthan and announced the reduction in fuel price which will be in effect immediately from Tuesday morning.
It was Chief Minister M Chandrababu Naidu who announced that in the assembly that there is going to be a reduction of Rs 2 per litre in petrol and diesel prices in the state.
On this Naidu said, “Common man is suffering a lot due to the increasing prices of fuel. To ease the burden a bit we are reducing the price of petrol and diesel by Rs 2 per litre. The state will lose revenue of Rs 1,120 crores due to this reduction in price and in spite of the financial difficulties the state is in, we are willing to wear it”.
On the other side, the protest ‘Bharat Bandh’ against the rising fuel prices by opposition may hit some states on Monday with offices and educational institutes closed and vehicles off the roads.
This rise in fuel prices is partially affected by the depreciation in rupee against the dollar. If things go at the same pace, things could be really uncomfortable for the consumers who will have to pay more form their own pockets.