WITH the prices of petrol and diesel skyrocketing and reaching the highest ever levels, the Kerala government has decided to reduce the prices of petrol and diesel by Rupee 1 in the state from June 1. With this, Kerala becomes the first state to announce a cut in fuel prices.
Chief Minister Pinarayi Vijayan, while making the announcement on May 30 said, "This will amount to a loss of Rs 509 crore for the state government. This is our message to the central government. At a time when the nation has been demanding a reduction in prices, the central government hasn't done anything", he said.
Petrol and diesel prices have been steadily rising every day for the last fortnight. In all, petrol price was increased by Rs 3.8 per litre and diesel by Rs 3.38 in that fortnight.