In what may be termed as a little relief from the soaring fuel prices, the Union Finance Minister has announced a cut in petrol and diesel prices by Rs 2.50.

Addressing a press briefing, the FM said that the Centre has cut the excise duty on fuel by Rs 1.50 and therefore has finally been able to cut the fuel prices by Rs 2.50.

Arun Jaitley has now put the onus on the states for cutting down the VAT so that the overall reduction can be of Rs 5 in all states.

While Assam, Maharashtra and Gujarat have followed the cue and have reduced the petrol and diesel prices by Rs 5, states like Andhra Pradesh and Kerala have decided not to comply with the finance minister’s cue.

Slamming the government’s decision, Congress said that decision is ‘too little too late’ and is not enough to give relief to the common man.  

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