Tamil Nadu cuts petrol prices by Rs 3 after reduction in state taxes
Providing some respite to consumers, the DMK government in Tamil Nadu cut petrol prices by Rs 3 per litre across the state.
Diesel price have been kept unchanged.
The DMK, which swept to power in April, presented its maiden budget today. It has reduced the state taxes by Rs 3 in a bid to provide some relief from record high fuel prices that have been burning a hole in commuters pockets.
The move is expected to cost the state exchequer Rs 1,160 crore annually.
The Oil Marketing Companies have kept the rates unchanged for the 27th consecutive day today.
