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Sunday, Jun 8, 2025
The Kerala State Road Transport Corporation has cut down 50 per cent of its ordinary bus services due to acute shortage of diesel.
Kerosene was selling for Rs 84 a litre in May, which was increased by Rs 4 to Rs 88 in June. This was now further hiked by Rs 14 a litre.
The Reserve Bank's Monetary Policy Committee hiking the repo rate by 40 basic points to 4.40 per cent earlier this month was a prelude to the government intervention to keep the price rise under control.
The government on Saturday announced a record Rs 8 per litre cut in excise duty on petrol and Rs 6 per litre reduction on diesel.
The excise duty cut will translate into a reduction of Rs 9.48 a litre on petrol in Kochi and Rs 7.42 per litre on diesel after taking into account its impact on other levies.
K Surendran has urged the Kerala government to reduce fuel tax further by Rs 10.
Union Finance Minister Niramala Sitharaman said the government has decided to slash excise duty on fuel.
The earlier decision was taken when the LNG price was Rs 43 for one kilo. But, now the LNG cost has skyrocketed to Rs110-170 per kilo.
The interim order by Justice N Nagaresh came on a plea by KSRTC challenging the State-run oil marketing companies' decision to charge a higher rate from bulk purchasers of diesel as compared to retail prices of the fuel.
In the last 12 days, price of petrol has increased by Rs 10.89 and diesel by Rs 10.25.
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