Kerala to reduce fuel prices by Re 1

Thiruvananthapuram, May 30 (IANS) The Kerala government on Wednesday announced a Re 1 per reduction per litre in the price of petrol and diesel from Friday, in a bid to bring some relief to the people hit by rising fuel costs.

Addressing reporters here after the weekly Cabinet meeting, Chief Minister Pinarayi Vijayan said: "The state government has decided to forego Re 1 from its tax portion and as a result, the loss to the exchequer would be Rs 509 crore in a year.

"We wish to send a message to the Centre that despite pleas from several quarters, it is not doing anything to bring some relief to the people.

"The price of fuel products is rising when international prices are falling. We did this because we wish to show our intent," he added.