Amid soaring fuel prices, Kerala Chief Minister Pinarayi Vijayan today said petrol and diesel prices in the state would be slashed by Rs 1 per litre from June 1.
A decision in this regard was taken at the state cabinet today.
The reduction would cause a yearly loss of Rs 509 crore to the state exchequer on the tax front, he said.
The petrol price in the state today was Rs 82 per litre, while for diesel it was Rs 75, he said.
“The Centre should reduce the rising fuel prices as it was causing severe hardship to the common man”, Vijayan said, adding that by reducing the petrol and diesel prices in Kerala, the government has set an example for the Centre to follow.
Even as international crude oil prices are coming down, fuel prices in the country were going up, he claimed.