After Centre cuts excise duty, Karnataka slashes petrol and diesel prices by additional Rs 7 a litre

Bengaluru, Nov 3 (PTI) After the Centre cut excise duty on petrol and diesel on Wednesday, the Karnataka government announced slashing their prices by an additional Rs 7 per litre.

In a series of tweets, Chief Minister Basavaraj Bommai said petrol will now cost approximately Rs 95.90 a litre and diesel Rs 81.5 in Karnataka.

He also welcomed the central government's decision to cut excise duty on petrol and diesel by a record Rs 5 and Rs 10 per litre.

"Our PM Shri @narendramodi ji has given the nation a wonderful Deepawali gift by reducing the burden of fuel prices. To add to this festive spirit, Karnataka Government too will reduce Rs 7 on both petrol and diesel prices from tomorrow evening.

"Even though, it will mean a loss of Rs 2100 crore to our exchequer, it will bring down the prices for our citizens to 95.90 & 81.50 (Approx.) for Petrol and Diesel respectively. Wishing all a very #HappyDeepavali with this good news once again," the chief minister tweeted. PTI GMS SMN SMN