Petrol price cut by Rs 12, diesel by Rs 17 in Karnataka

BENGALURU: Within a few hours of the Union government reducing the prices of petrol and diesel by Rs 5 and Rs 10 per litre respectively, Chief Minister Basavaraj Bommai announced that Karnataka will reduce the prices of both fuels by another Rs 7. With this, the price of petrol is expected to be Rs 95.5 and diesel Rs 81.5 per litre in Karnataka. This will lead to a revenue loss of Rs 2,100 crore to the state government. Bommai stated that the new prices will come into effect from Thursday evening. “This will be the Deepawali gift from state and union governments,” he tweeted. The prices of petrol and diesel crossed Rs 100 a few weeks ago. The Opposition Congress had taken up the issue and protested both inside and outside Vidhana Soudha. Leader of opposition Siddaramaiah and KPCC president DK Shivakumar had even mocked the government by riding a bullock cart to Vidhana Soudha during the legislature session.