Maharashtra Chief Minister Eknath Shinde on Thursday announced that the state government has decided to cut value added tax on Petrol and diesel.

The petrol price will be slashed by Rs. 5 per litre and diesel by Rs. 3 per litre.

Shinde informed reporters after a cabinet meeting at Mantralaya that the decision would entail a burden of ₹6,000 crore on the state exchequer.

Deputy CM Devendra Fadnavis said the decision was part of the Shiv Sena-BJP government’s commitment to people’s welfare.

The price of petrol in Mumbai was holding steady at Rs 111.35 for at least the last 11 days. It will now cost 106.35.

Diesel was holding steady at Rs 97.28 during the same period. It will now cost Rs 94.28.