Reduction in fuel prices would not immediately impact price of commodities: Experts

While welcoming the central government’s decision to reduce the excise duty on fuel, Mumbaikars are now looking to the state government in the hope that it would announce a reduction in Value Added Tax (VAT) to further bring down fuel prices in the city.

However, experts said that this reduction would not immediately impact the price rise that several essential commodities have seen in the recent months.

“It is a welcome move that the prices have been decreased on the occasion of Diwali. Fuel prices should be reduced further and the state government should also reduce VAT. Though the fuel prices are still high but at least there has been a decrease,” said Aishwarya Patel, a Vikhroli resident.