Kerala will cut petrol and diesel prices by Re1 from 1 June, a move driven by ruling Leftists’ opposition to the spiraling retail prices of petroleum products under the Bharatiya Janata Party (BJP)-led rule in the center. The state will pass a part of its additional tax levied on petrol and diesel at the cost of losing an annual revenue of Rs509 crore, said chief minister Pinarayi Vijayan in a televised press meet. Kerala is reeling under a severe revenue shortage, bearing which in mind, both Vijayan and state finance minister Thomas Isaac had earlier refused to cut the fuel prices by forgoing their taxes.

Kerala will cut petrol and diesel prices by Re1 from 1 June, a move driven by ruling Leftists’ opposition to the spiraling retail prices of petroleum products under the Bharatiya Janata Party (BJP)-led rule in the center. The state will pass a part of its additional tax levied on petrol and diesel at the cost of losing an annual revenue of Rs509 crore, said chief minister Pinarayi Vijayan in a televised press meet. Kerala is reeling under a severe revenue shortage, bearing which in mind, both Vijayan and state finance minister Thomas Isaac had earlier refused to cut the fuel prices by forgoing their taxes.