Shillong, Oct 10: The price of diesel and petrol will come down by Rs 2.50 per litre in Meghalaya from Wednesday’s midnight.
The proposal to reduce the fuel prices was approved by the State cabinet chaired by Chief Minister, Conrad K Sangma on Wednesday evening.
Tynsong said that the reduction by another Rs 2.50 per litre will be with effect from Thursday morning. Deputy chief minister, Prestone Tynsong told reporters that the proposal of the state taxation department to cut the price of petrol and diesel in the state was in line with the Central government’s decision.
In view of the soaring fuel prices, the Centre on October 4, decided to cut excise duty by Rs. 1.50 and another Re 1 drop by oil marketing companies, taking the reduction in petrol and diesel prices to Rs. 2.50 per litre.
States were also asked to reduce the price by Rs 2.50 per litre so that the total reduction will work out to Rs 5 per litre.
Prior to the cut, the price of petrol was Rs 81.66 per litre and diesel Rs 73.94 per litre in Meghalaya.
Tynsong said that the state government has to incur extra expenditure of Rs 15 crore a year for bringing down the price of petrol and diesel by Rs 2.50 per litre.
As Meghalaya is reeling under financial crisis, Tynsong said that various departments have been asked to find out ways to generate revenue.
